“We are aligned with the market consensus that the adoption out of gate here will likely be relatively slow and modest compared to the bitcoin ETF adoption. Part of that is the bitcoin ETF adoption is in the early innings – a lot of the largest pools of money for that ETF have not even been turned on yet.”

 “Much like the bitcoin ETF, it will take time for inflows into the ETH ETF to create enough supply shock to significantly move the markets.”

 “The decision by President Joe Biden to drop out of the presidential race introduces uncertainty into the market. Investors are waiting for more concrete developments about Vice President Kamala Harris, her stance on crypto, and the likelihood of her taking back any ground in the polls.”

 “Bitcoin’s drop from recent highs reflects the sudden arrival of Kamala Harris into the U.S. presidential election, which adds uncertainty to a race which seemed to tilt in favor of Donald Trump and his new pro-crypto stance.”

 “Taking profit, or even shorting bitcoin ahead of Trump’s Nashville speech, could turn out to be an expensive exercise.”

 “Bitcoin is trading close to the previous bull market's all time high ($69,000), often touted by technicians as a 'line in the sand' over which a possible 'parabolic move' might occur if prices could successfully hold above that level.”