According to Crypto Rover, Ethereum (ETH) just recorded its largest daily price candle since the approval of the Spot ETF, marking a significant surge in trading volume and market momentum (Source: Crypto Rover on Twitter, May 9, 2025). This move is noteworthy for traders as it reflects increased institutional interest and robust buying pressure, which could signal further bullish continuation for ETH in the near term. Traders should monitor key resistance levels and on-chain activity for confirmation of sustained upward momentum.

According to Eleanor Terrett on Twitter, there has been significant confusion among traders regarding recent ETF approval news, with many users mistakenly believing it pertained to a spot ETF. Terrett reported receiving about 20 direct messages asking if the announcement was for a spot ETF approval, highlighting ongoing misinformation and misinterpretation in the crypto trading community (source: Eleanor Terrett Twitter, April 27, 2025). This underscores the importance for traders to verify ETF approval types before making trading decisions, as spot ETF approvals typically have a stronger impact on cryptocurrency prices than futures ETF announcements.