As you know, the Chicago Board Options Exchange (CBOE) has confirmed that five spot Ethereum ETFs will start trading this week, on July 23, 2024. This news has helped boost the prices of cryptocurrencies recently. However, when the ETFs begin trading, many investors might jump in, but this can sometimes cause the opposite effect. Too much excitement can lead to a change in sentiment, resulting in a price pullback. So, while ETH/USD might see a drop from its current rise, it should still recover after a short-term a-b-c decline. ETH Dominance is also coming back into some nice support.
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