Matrixport: Bitcoin Price Predicted to Rise with Trump Victory, Ethereum ETF Approval Boosts ETH

IconCryptoNewsTerminal Staff31 May, 2024

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Matrixport: Bitcoin Price Predicted to Rise with Trump Victory, Ethereum ETF Approval Boosts ETH

According to a recent report by Matrixport, Bitcoin's price is expected to rise if former US President Donald Trump, who is seen as pro-crypto, wins the 2024 November US presidential election. The report states that "BTC is garnering attention from traditional finance, and the trigger is shifting to macro factors. If the US inflation figures ease, BTC could rally on spot ETF inflows, and ETH is also expected to rally as the US Securities and Exchange Commission (SEC) is set to approve an Ethereum (ETH) spot ETF." Traders are building long positions ahead of the ETH spot ETF approval, and there has been a $4 billion inflow into ETH perpetual futures.