Crypto Markets Stabilize After Decline; Traders Await Spot Bitcoin ETF Approval To Spur Growth

Crypto traders expect spot bitcoin ETF approval to reinvigorate markets. Major tokens like XRP, SOL, and BNB have stabilized after drops.

Crypto markets stabilized over the past 24 hours following a week-long decline as geopolitical conflicts weighed on riskier assets.

Bitcoin hovered over $26,800 after a 3% weekly loss. Ether traded over $1,500 after a 5% hit. Other major tokens like XRP, SOL, BNB, and DOGE also saw some losses.

Analysts said bitcoin is in equilibrium currently, neither bullish nor bearish. Significant price movement unlikely without a catalyst like the halving or spot ETFs.

Traders eagerly await U.S. spot bitcoin ETF approval, expecting more institutional demand. Bitcoin seen as a "flight to quality" asset after exuberance of recent years.