Spot Ethereum ETF Approval Unlikely But 'Bad News Already Priced In': Standard Chartered
Portfolio Pulse from Murtuza Merchant
Standard Chartered has revised its timeline for US approval of Ether ETFs, citing multiple challenges but remains optimistic about the future of digital assets. Despite setbacks, the bank maintains bullish end-of-year price targets for Bitcoin and Ether. The report highlights significant market adjustments, including the largest daily liquidation of leveraged long positions in the Bitcoin futures market since October 2023.
April 24, 2024 | 11:13 am
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Standard Chartered remains optimistic about Ethereum's future despite regulatory and market challenges, maintaining a bullish end-of-year price target of $8,000.
The bank's optimism and bullish price target for Ethereum, despite regulatory and market headwinds, suggest a positive outlook for ETHUSD in the short term. The anticipation of positive structural drivers taking over could support Ethereum's price.
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