"Potential Market Shake-Up: Expert Predictions on Ether and Bitcoin Performance Amidst BTC Halving and ETF Decisions"

The cryptocurrency market may be poised for a shakeup according to a pantheon of industry experts, particularly in relation to Ether (ETH) and Bitcoin (BTC). Despite a recent 11.39% downturn in ETH prices over the last 30 days, many analysts predict a strong resurgence in ETH price following the BTC halving event, and this potential upswing could carry significant implications for the market and investors.

A BTC halving event, during which the reward for mining new blocks is halved, is projected to stimulate a significant rise in ETH prices. This prediction is based on historical trends shown in data from previous BTC halving events. Interestingly, despite a potential ETF denial on the horizon, analysts do not anticipate it affecting either these projected increases or the strong open interest in the market.

Jupiter Zheng, Hashkey Capital head of Research, assures the market that the market is not betting hard on the ETF decision. In conversation with Cointelegraph, he provided insights, stating that a potential ETF denial is not expected to significantly impact prices. This view stems from Zhengs belief that market pricing has yet to factor in the ETF, and with existing BTC ETFs providing an entrance for traditional funds, the impact would be minimal.

On the flip side, should a spot Ether ETF be approved with staking, Zheng says it would indeed be really bullish as this could trigger a surge in short liquidations, propelling the price even higher. In line with this, a precipitous decline observed in Ethers prices this week has already led to around $39.13 million worth of long positions getting liquidated in just 24 hours, according to CoinGlass data.

However, despite these developments with ETH, Zheng downplays their impact on ETH futures open interest. Currently, ETH futures open interest stands at $12.89 billion, a significant figure, but dwarfed in comparison to BTCs open interest, which is 2.5 times larger at $31.744 billion.

Jelle, a high-profile trader, contributes another piece to this puzzle, identifying a clear ascending triangle forming on Ethers price chart since June 2023. This pattern, reminiscent of the one observed up to the last Bitcoin halving in May 2020, signals towards a potential surge for ETH on the horizon. Its a pattern that he describes as ETHs sign to start running hard.

Adding caution to these expectations, recent developments surrounding approval of spot Ether ETFs have not all been positive. There is growing uncertainty following investigations by the United States Securities and Exchange Commission into the Ethereum Foundation. This, coupled with actions on March 20 when the SEC issued several subpoenas to companies associated with the Ethereum Foundation, reveals attempts by the commission to potentially classify ETH as a form of security.

Displaying deft shrewdness, Zheng anticipates that despite these uncertainties, the ETH season is yet to come. We can, therefore, anticipate an eventful period in the cryptocurrency market, characterized by efforts to stratify Ether and the larger crypto landscape, even amidst regulatory question marks. These expert perspectives clearly underscore the resilience of cryptocurrency, and its potential to continue its tenacious march into mainstream financial investment.