Continued outflows from Ether ETFs are intensifying short-term selling pressure, while the anticipated approval of SOL staking ETFs and Tether's significant fundraising indicate medium-to-long-term growth prospects. Bitcoin price divergence is heightening market uncertainty, resulting in an overall neutral bias.

Ether ETF Outflows and Price Decline Spot Ether ETFs in the US experienced outflows of approximately $796 million over the past week. Concurrently, the Ether price declined roughly 10% week-over-week, indicating waning institutional sentiment towards Ethereum. This translates to short-term selling pressure, potentially accelerating the price decline. Persistent outflows from ETFs could risk spillover effects impacting other altcoins, including Bitcoin. Bitcoin Price Divided: $60k vs. $140k Scenario Bitcoin has fallen over 12.75% from its all-time high, leaving traders divided on its future price trajectory. While some view this as a market correction, others warn of a potential entry into a new bearish cycle. Historical data suggests a downside scenario towards $60,000. Conversely, if the $104,000 support level holds, a bullish scenario targeting above $140,000 exists. The lack of clear direction in this price range increases market uncertainty and contributes to heightened short-term volatility. Vitalik Buterin Criticizes EU's 'Chat Control' Bill Ethereum co-founder Vitalik Buterin has voiced strong opposition to the EU's 'Chat Control' bill, warning of risks to digital privacy and surveillance. The proposed legislation mandates scanning private communications. From a privacy protection standpoint, this criticism could garner broad support within the crypto community. However, if the bill progresses in the EU, privacy-focused projects and users may face restrictions on their activities in certain regions. US Approval of Solana Staking ETF Expected Within Weeks ETF analysts predict a high likelihood of approval for a Solana (SOL) staking ETF in the US within the next two weeks. With major asset managers like Franklin Templeton and Fidelity Investments having filed applications, approval would serve as a potent catalyst for institutional capital inflow into the Solana ecosystem. This could drive upward price pressure for Solana and potentially accelerate ETF applications for other blockchain projects. US Economic Indicators and Interest Rate Trends Impact Bitcoin Price Strong US economic indicators and rising gold prices are reportedly diverting investor interest away from Bitcoin. Furthermore, regulatory uncertainty and an ambiguous 'US Strategic Bitcoin Reserve' plan are acting as headwinds, suppressing Bitcoin's price despite potential macroeconomic tailwinds. These factors may curb short-to-medium term price appreciation for Bitcoin, with movements related to FOMC rate hikes or cuts remaining key points to watch. Tether Reportedly Considering Up to $20 Billion Raise; SoftBank and ARK Potential Candidates Stablecoin issuer Tether is reportedly considering raising up to $20 billion from prominent investment firms including SoftBank Group and ARK Investment Management. This move signals strong investor confidence in Tether's profitability and the growth potential of the stablecoin market. If successful, the funding could further enhance Tether's credibility and potentially contribute to the overall expansion of the stablecoin market. Citi Forecasts $4 Trillion Stablecoin Market by 2030 Following recent robust growth, Citi has raised its market size forecast for stablecoins by 2030 from $3.7 trillion to $4 trillion. The base case forecast was also revised upwards to $1.9 trillion. This suggests accelerating stablecoin adoption and deeper integration with traditional finance. A significant influx of capital into the stablecoin market could enhance liquidity across the broader crypto market and foster the development of new financial products. Kraken Completes $500 Million Funding Round at $15 Billion Valuation Cryptocurrency exchange Kraken has reportedly completed a $500 million funding round at a $15 billion valuation, amid speculation that it is preparing for an Initial Public Offering (IPO). This funding strengthens Kraken's financial foundation and, if successfully executed, its future IPO could potentially boost valuations across the entire crypto exchange sector. The financial strengthening of a major exchange also contributes to enhancing overall market confidence. Overall Summary Continued outflows from Ether ETFs and the bifurcation of Bitcoin's price action signal short-term market uncertainty. However, the anticipated approval of Solana staking ETFs, Tether's significant fundraising efforts, and Citi's optimistic forecast for the stablecoin market highlight medium-to-long term growth potential. Vitalik Buterin's critique of the EU bill underscores the importance of privacy protection, and regulatory developments alongside institutional investor behavior will remain key determinants of market direction.

Continued outflows from ETH ETFs heighten the downside risk for Ethereum and other altcoins. US economic indicators and interest rate trends are also factors suppressing the Bitcoin price. The key support level is the recent low of $4; a break below this could lead to further declines.

In the short term (24-48 hours), range-bound trading is anticipated due to uncertainties surrounding the ETH ETF developments and Bitcoin's (BTC) directional trend. In the medium term (1 week), the approval of a SOL Staking ETF could serve as a positive catalyst; however, macroeconomic indicators and interest rate trends will continue to be closely monitored.

While the market faces significant short-term uncertainty due to outflows from ETH ETFs and the divergence in BTC prices, expectations for the approval of a SOL staking ETF and projections for stablecoin market growth suggest medium-to-long-term potential. Technically, with indicators in neutral territory, a wait-and-see approach is currently the optimal strategy. For short-term trades, consider buying on dips around the $4 level and targeting a rebound towards $5, while strictly setting stop-losses below $4. This week, key events to monitor include news on the SOL ETF approval, US economic indicators, and FOMC developments. Opportunities within structural growth sectors should be explored, accompanied by rigorous risk management.