According to K33 analysts, Ethereum (ETH) may continue to perform poorly against Bitcoin (BTC).
K33’s Senior Analyst Vetle Lunde and Vice President Anders Helseth think that investors will turn to Bitcoin more than Ethereum in today’s environment:
“The simple explanation for this is that Bitcoin is more attractive as digital gold than Ethereum, which is associated with DeFi and NFT, as people are reluctant to take risks and Bitcoin ETFs could potentially be approved.”
Analysts say Ethereum unless there is evidence it will go up They think it’s safer to stick with Bitcoin.
Grayscale received a rejection response to its application to the SEC to convert the GBTC fund into a spot Bitcoin ETF, and then filed a lawsuit against the regulator. While Grayscale won this case, the appeal period regarding the victory received ends tomorrow. According to analysts, the US Securities and Exchange Commission (SEC) will not object to the court’s decision.
In such a case, the SEC may reject Grayscale’s application. reevaluate may remain in this situation.
According to K33 analysts, whether the SEC appeals this decision or not, there will be movement in the short term it could be.