The wind suddenly started blowing from behind on Ether spot ETFs, pushing prices significantly higher in less than 24 hours. Bitcoin went from $67,000 to $71,000 and Ether from $3000 to $3600.

$4,000 is forecast

In fact, there was almost no hope for Ether spot ETFs until yesterday. However, the positive news from the US increased the trading volume as well as the price. Trading volume in Ether, which gained 25% on a weekly basis, increased by 264% on a daily basis. The expectations of analysis companies started to point to $ 4,000.

Record value increase came

The improving weather has led to a record increase in the price and market capitalization of Ether. Ether rose by more than $590 in one day, adding $70 billion to its market capitalization. Both figures have never been seen before in Ether’s history. Ether price started yesterday at $3070 and rose to $3660 after the news broke.

Important breakout in the ETH/BTC pair

As the environment suddenly changed, the whales started buying. Ether whales bought more than 110,000 units of ETH in the last 24 hours. There was also an upward breakout in the ETH/BTC pair, which is seen as one of the important metrics for the altcoin rally. The pair rose above 0.050. This figure had been falling steadily since May 2022. The decline started at 0.08.

The US Securities and Exchange Commission (SEC) will make its final decision on the Ether spot ETF applications of VanEck (May 23) and ARK Invest (May 24) this week. In other words, the agency has no choice but to approve or reject the applications.