While a Decline in ETH is Expected, “Godzilla” Message from Bitcoin Bull!

The crypto market has overcome a significant hurdle on its way to the long-awaited Ethereum ETF. Long-term Bitcoin bull and MicroStrategy chairman Michael Saylor published a Bitcoin message to the community following the latest development. Saylor expects Bitcoin to beat Ethereum and all other competitors in the market. Meanwhile, analysts issued a bearish warning for ETH.

“Bitcoin Godzilla” message from Michael Saylor!

Leading Bitcoin maximalist Saylor responded “BTC bullish” to the elated crypto community. Accordingly, Saylor said, “When Godzilla comes, all your models are destroyed. “Bitcoin,” he said. He also shared an image of a monster straight out of the movies, tearing apart everything around it. There is a BTC mascot in the lower right corner of the Godzilla image, as if to allude to the immense power of Bitcoin that its followers believe in and the impact on the market they expect to see in the future.

Bitcoin maxi Samson Mow predicts decline in ETH

cryptokoin.comAs you follow from , the Ethereum ETF approval came as a surprise to the market. Jan3 CEO Samson Mow, another Bitcoin maximalist, also responded negatively to the ETF approval. Mow said the odds of approval for spot Ethereum ETFs are always 50/50. He thinks the only real reason behind the approval is that the SEC has painted them into a corner. So “they had no choice but to let it pass.” says. Mow reminded that the ETF approval “does not change the bearish outlook for Ethereum at all” for him. Earlier this week, Mow said that now is the last chance to sell ETH above 0.05 BTC.

Popular analyst reveals potential ETH movements

Analyst Ali Martinez recently examined Ethereum’s market movements and provided some information. Martinez noted that the significant transfer of ETH to exchanges has raised eyebrows. This activity led to speculation about potential profit-taking, portfolio balancing, or simply market speculation. Additionally, Ethereum co-founder Jeffrey Wilke recently transferred 10,000 ETH to the Kraken exchange, worth approximately $37.38 million. This significant transfer signals a sale that has the potential to trigger price volatility.

Wilke’s move is part of a broader trend that has seen more than 242,000 ETH transferred to exchange wallets over the past two weeks, according to Spot On Chain data. It contributes to the increase in Ethereum trading activities, especially in recent days. Meanwhile, Martinez pointed out that the TD Sequential indicator gave a sell signal on Ethereum’s daily chart. This indicator predicts market trends and shows that ETH will likely face selling pressure. The analyst said that the green nine candlesticks on the daily chart could lead to a price pullback or even a new bearish phase before any potential uptrend resumes.

Source: Glassnode

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