Macroeconomist: Bitcoin to hit $100k amid spot Ethereum ETF postponement

One analyst projects Bitcoin to rise to $100,000 in the second half of the year, while the outlook for the spot Ethereum ETF is not as optimistic.

A macroeconomist under the pseudonym Luxon shared expectations similar to those of journalist Colin Wu. The expert added that American investment giants could invest 1-3% of their assets under management (AUM) in Bitcoin (BTC). This is due to the postponement of the Federal Reserve’s rate reduction from May to June or later and the gradual implementation of institutional plans to invest in BTC.

The specialist acknowledged the underestimation of the enthusiasm for spot Bitcoin ETFs, leading to an all-time high update before the impending halving next month. Luxon called the nature of the positive dynamics “surprising” in the context of tight monetary policy and the postponement of the start of its easing to a later date.

The expert also predicted that Bitcoin will maintain its leadership in the cryptocurrency market. Luxon justified its view with skepticism regarding the SEC‘s approval of an Ethereum ETF.

The macroeconomist recalled the regulator’s investigation into the proof-of-stake (PoS) mechanism in the context of security and price manipulation. Another obstacle may be the department’s interpretation of an asset as a security.

“The prospects for an Ethereum spot ETF are not very optimistic, therefore, it might be a bullish market solely for Bitcoin.”

Luxon, macroeconomist

The specialist should have included the rotation of capital from Ethereum to Polygon and Solana in the absence of ETFs for the former and an increase in the number of developers of the latter.

In related news, Bloomberg ETF analysts previously lowered the odds of spot Ethereum ETF approval in May to 35%, with no set prediction of when approval on ETH ETFs may come.

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