BitQuant analyst says bitcoin will rise to $ 95,000 in June

The cryptocurrency market is experiencing steady optimism, against which many digital coins are strengthening their positions. In such conditions, analysts share their opinions on what can be expected from a particular coin in the near future.

In a recent post on social media, an expert called BitQuant noted that the flagship of the crypto market will reach $ 95,000 in June. At the same time, the approval of spot Ethereum-ETFs could become a powerful catalyst for the development of such a scenario.

Meanwhile, the main altcoin has surpassed the $ 3,800 mark amid details about industry-specific ETFs. Yesterday, May 23, the U.S. Securities and Exchange Commission (SEC) officially approved spot Ethereum-ETFs, The Block reports.

The regulator approved Forms 19b-4 filed by issuers wishing to launch spot Ethereum-ETFs. These issuers include BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton. «This is only a 19b-4 approval. We also need to approve the S-1 documents, which will take time. We expect it to take a few weeks, but it may take longer. We should know more within a week or so,» said Bloomberg Intelligence analyst James Seyffarth.

The leading altcoin itself did not react positively to the event. According to the CoinMarketCap analytical tracker, at the time of writing, ethereum is trading at $ 3,717, a regression of more than 5.2%. The total number of coins circulating on the market is $ 446 billion.