May 24, 2024 - Economy

Charted: ⏯️ Rally, paused

The line chart shows the fluctuation in ether and bitcoin prices from 10 a.m. May 17 to 9 a.m. May 24, 2024. Ether experienced a significant increase on May 20 in anticipation of ether ETF approval and ended the week 20% higher. BTC was relatively flat.
Data: CoinGecko; Chart: Axios Visuals

Ether and bitcoin rallied into the SEC's expected ruling on spot ether ETFs.

Flashback: Anticipation for the decision to swing to the positive pushed prices higher, and ether popped when the decision landed shortly after 5pm ET yesterday.

  • BTC rallied alongside ether at the top of the week but ultimately finished the week flat.

What's happening: Ether is giving back some of those gains this morning.

Crystal's thought bubble: Perhaps part deux of the rally will pick up when there's activity around the second leg of the ether ETF regulatory process.

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