The cryptocurrency market experienced a turbulent period over the past few days, with Ethereum and Bitcoin prices facing volatility and traders grappling with significant liquidations.
As the market braces for the release of crucial U.S. inflation data, analysts remain skeptical about the prospects of a spot Ethereum ETF approval this year.
TLDR
- Ethereum price failed to break above $3,725 resistance and trimmed gains, consolidating near $3,475 support
- Bitcoin and Ethereum dipped hours ahead of new U.S. inflation data release on 10 April
- Ethereum’s long traders faced $59 million in liquidations on 9 April due to a brief price drop to $3,470
- Analysts are skeptical about SEC approving a spot Ethereum ETF this year
- Bitcoin’s volatility has increased ahead of its halving event on 20 April
Ethereum, the second-largest cryptocurrency by market capitalization, failed to break above the $3,725 resistance level. After…
