Ethereum
Ethereum Prices Struggle Amid Regulatory Uncertainty and Market Concerns
Ethereum Prices Struggle Amid Regulatory Uncertainty and Market Concerns
Ethereum (ETH) fell to $3,560, down 3.4% in the past 24 hours despite the planned launch of spot exchange-traded funds (ETFs) in the United States. The lack of bullish momentum for ETH is attributed to regulatory uncertainties and broader macroeconomic concerns, which have dampened investor confidence.
Despite the possibility that the U.S. Securities and Exchange Commission (SEC) will approve ETF filings from major companies like BlackRock, Fidelity and VanEck this week, investors are hesitant. The lack of clarity on the timeline for approval of individual S-1 fund filings by the SEC has added to the uncertainty.
Beyond regulatory issues, the macroeconomic environment also concerns investors. The real estate market, both in the United States and globally, is showing signs of strain. Moody’s Ratings recently warned that at least six U.S. regional banks were at risk of having their debt ratings downgraded due to significant concentrations in commercial real estate, which suffers from higher interest rates.
Bearish sentiment is evident in metrics for ETH futures, which have reached their most pessimistic point in over three weeks. Data from Laevitas.ch reveals that the ETH futures premium fell to 13% on June 10, from 15% on June 6. While this is not completely bearish, it is the lowest level in over three weeks, indicating a loss of confidence.