Time to ‘pull the brakes’ on Ethereum and rotate back to Bitcoin: K33 report

The relatively lackluster performance of nine new Ethereum futures exchange traded funds (ETFs) has prompted analysts at K33 Research to urge a “rotate back” into Bitcoin (

In Lunde’s view, this landscape is only really favorable for Bitcoin, which has a potential spot for ETF approval to look forward to early next year, as well as the halving event which is currently on track for mid-April.

“The gravitational pull in crypto for the time being stays in BTC, with a promising event horizon down the line, still favoring aggressive accumulation.”

Ben Laidler, global markets strategist at eToro, charted a similar path ahead for crypto assets, albeit with a slightly more bearish sentiment.

In emailed comments to Cointelegraph, Laidler pointed to current macro trends as a potential downward trigger for prices of mainstay crypto assets like Bitcoin.

“The Fed and oil prices have been consistently powerful macro influencers on the crypto market in the past couple of years,” wrote Laidler. “At the late stage of the rate hike cycle we’re in, the market is looking for further good news to push on, but with oil prices rising again, this could have a cooling effect on sentiment.”

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