<ul><li>The U.S. SEC has approved the first-ever spot Bitcoin and Ethereum combo ETFs from Hashdex and Franklin Templeton.</li><li>These ETFs will hold spot Bitcoin and Ethereum based on market capitalization, with an approximate 80/20 split favoring Bitcoin.</li><li>Historically, ETF approvals have driven positive sentiment in the crypto market.</li><li>However, the current macroeconomic environment could limit Ethereum’s price recovery.</li><li>Open interest for Ethereum futures hit a new all-time high of $28.70 billion on December 17.</li><li>However, the long/short ratio dropped to 0.9, indicating that more traders are betting on a decline in ETH prices.</li><li>Ethereum’s market structure still shows signs of higher highs (HHs) and higher lows (HLs).</li><li>Ethereum’s price recently plunged from a high of $4,109 to a low of $3,260, marking a sharp 20% decline.</li><li>The decline was triggered by increased market pressure following guidance from the U.S. Federal Reserve.</li><li>Since 2021, the $4,000 resistance has been tested five times but remains a strong resistance point.</li></ul>

Ethereum Price Crash amid ETF Developments – What’s Happening?

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