Crypto analysts are optimistic about the potential for Ether's price to rise significantly in the months following the Bitcoin halving, despite a recent 11.39% decrease in its value over the past 30 days.

One researcher mentioned that the denial of a potential ETF approval might not necessarily cause a decrease in prices, as the market has not yet factored it into its pricing, and there are other avenues for traditional funds to enter the market.

However, if an Ethereum ETF with staking is approved, it could have a very positive impact on the price. Approval of such an ETF could lead to an increase in short liquidations, potentially driving prices even higher.

Recent data from CoinGlass shows that the sharp drop in Ethereum's price has resulted in significant liquidations of both long and short positions. Short positions totaling $15.66 million were liquidated in the past 24 hours, with the potential for even more liquidations if the price drops by just 1.5%.

Despite the recent decline, there is a substantial $12.89 billion in Ethereum futures open interest, although Bitcoin remains the dominant player with approximately $31.744 billion in open interest.

An analyst identified a pattern on Ether's price chart leading up to the Bitcoin halving that resembles the trend before the previous Bitcoin halving, suggesting a potential rally in the works.

Another analyst predicted that the "ETH season" is still on the horizon, indicating further positive price movements for Ethereum.

However, recent reports suggest that the approval of spot Ethereum ETFs may face challenges, as the U.S. Securities and Exchange Commission investigates the Ethereum Foundation, potentially impacting the ETF approval process.