The price of Ethereum (ETH) will be affected by the approval of the Bitcoin ETF this week.
Some of the biggest asset managers on the entire planet are going to release a BTC ETF: Blackrock $9.3 Trillion Fidelity $4.5 Trillion Franklin Templeton $1.53 trillion Invesco $1.5 Trillion.
BlackRock expects Bitcoin ETF approval on Wednesday, in-line with Bloomberg's January 10 deadline.
I expect the approval to a buy the rumor, sell the news event. Employing the strategy of "buy the rumor, sell the news," traders strategically capitalize on market movements by entering positions based on speculative information. This approach involves opening positions on rumors and closing them when the anticipated news is officially announced, typically resulting in a profit.
A retracement in the price of Ethereum, after the news, probably to $1900, would be a buying opportunity for a year-end rally, in my opinion.