The sudden crash in Bitcoin has turned the whole market into red and ETH not exceptional is in red. Whatever gains it had made earlier this year have been lost and there is no indication as to when the spot ETF trading will start. I read an article a day back on
coindesk, that full approval is expected to happen by September after that we can expect the trading to start. Until that time comes I am not expecting the price of ETH to go beyond $4k, it can go below $3k if Bitcoin keeps falling.
There are so numerous speculations about ethereum ETF and other than what you have mentioned above, Bloomberg analys has speculated that if ethereum ETH is likely to be launched in the next month.
Dump is a common thing in the crypto as long as ethereum would not be breaking 3k rate. It should be fine. The trend is totally depending on bitcoin at this moment. Even, there is no guarantee if ethereum price will surge after the start of ethereum ETF,
It's all about specuilation for now. Ethereum's price is very stable at this moment. I think that bitcoin has reached its bottom. We may be back to the 71k easily.
Bitcoin's market dominance is still considerably big at this moment. Im willing to see bitcoin to get less market dominance over altcoins.