Ether Slumps While Bitcoin Holds Steady As ETF Volumes Disappoint

Bitcoin (BTC) could be at risk of a short-term reversal following recent price bumps, while ether (ETH) futures ETFs performed poorly.

Ether and bitcoin were initially buoyed by the launch of 6 ETH ETFs, but trading volumes were under $2 million across all ETFs.

Analysts have turned bearish on ether and are pivoting to bitcoin investments instead due to poor ETF volumes.

Ether lost nearly all gains from the past week, while bitcoin hovered above support levels. Other majors like XRP and BNB were little changed.

Toncoin (TON) surged 8.8% with no clear catalyst, while Avalanche's AVAX continued gains from earlier in the week.