ETHE - Ethereum Trader Is 'Extremely Long' And Sees 'Significant Upside Repricing' Coming | Benzinga
Spot Ethereum (CRYPTO: ETH) ETFs have kept crypto markets and traders on the edge, with bullish sentiment for the second-biggest crypto rising.
What Happened: Trader Flood Capital predicts a 77% chance that the Ethereum ETF will commence trading next week. He expects a "significant upside repricing" based on the assumption that Ethereum ETF flows will not disappoint and went “extremely long” on the asset.
The trader highlighted that the recent Ethereum low marked a near full retracement of the ETF announcement pump, indicating that people are extremely bearish due to (OTC:ETHE) outflow fears, critical views from crypto figures like Kang and poor market sentiment.
Flood Capital also presented several bullish arguments that he believes are being overlooked. He emphasized that asset managers view the crypto ETF ...