An expert cryptocurrency trader believes that the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) in the United States could lead to a significant surge in the value of altcoins. The trader, known as the Flow Horse, shared this prediction with his 216,300 followers on the social media platform X, stating that a spot ETH ETF would cause the crypto markets to become even more volatile. He added that if the ETF is approved, it would bring a second wave of intense price increases.

The Flow Horse also mentioned that Dogecoin (DOGE), a popular meme asset, has been performing well recently. At the time of writing, DOGE is trading at $0.169 and has seen an increase of nearly 11% in the past 24 hours.

Additionally, the trader drew attention to the Ethereum open interest chart, which he described as “pretty wild.” He emphasized that it would not be unreasonable for traders to reduce their leverage in response to the chart’s data. He suggested that passive sellers may not have adjusted their positions quickly enough and could be facing losses.

As for Ethereum itself, it is currently trading at $3,749 and has experienced a significant increase of almost 20% in the past 24 hours.

Please note that the opinions expressed in this article are not investment advice, and investors should conduct thorough research before engaging in high-risk investments. The Daily Hodl, where this information was sourced, does not recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor.