At present, the most concerned thing in the entire market is the Ethereum ETF, and the second is the issue of interest rate cuts!

1️⃣The market generally expects that the approval and listing time of the Ethereum ETF will be concentrated in two time periods: July 8 to July 12, and July 15 to July 19. It is believed that the approval this week is more likely. Last week, the applicants submitted updates to the S-1 documents in accordance with the requirements of the U.S. Securities and Exchange Commission (SEC). Given that the updated content has not changed much, it is expected that July 8 will be the deadline for document updates, and then enter the final approval process.

2️⃣Unless the SEC makes another request for amendments, the approval process will continue. Considering the current status of the document, the SEC is unlikely to propose amendments again, and it is expected to complete the approval in the week of July 15 at the latest. The market expects that the approval of the Ethereum ETF will bring new vitality to the crypto market. With the release of market selling pressure and pessimism, market sentiment is expected to gradually improve.

3️⃣In addition, the recent market liquidation data is comparable to the FTX incident at the end of 2022, indicating that the market may be close to the bottom. In this market environment, it is recommended that you avoid being emotionally bearish on the market and remain rational and objective. Maintain a long-term perspective, pay attention to changes in market structure and fundamentals, and avoid making impulsive trading decisions due to short-term fluctuations.