A well-known crypto trader believes that the approval of a spot Ethereum exchange-traded fund (ETF) in the US could significantly benefit altcoins.
Flow Horse’s Prediction
The pseudonymous trader known as Flow Horse shared his insights with his followers on social media. He believes that an ETF would further fuel the already volatile crypto markets.
Dogecoin’s Potential
Flow Horse also highlighted Dogecoin (DOGE), noting that it has been showing signs of strength. He suggests that the meme coin could be poised for a rally.
Ethereum’s Open Interest
The trader also drew attention to the Ethereum open interest chart, which he described as “wild.” He advised traders to consider reducing their leverage in light of the current market conditions.
Market Update
At the time of writing, Ethereum is trading at $3,749, up nearly 20% in the past 24 hours. Dogecoin is trading at $0.169, up approximately 11% in the same period.
