Bulls fight to keep Ethereum price above $4K ahead of Friday’s $435M

Ether (ETH) flirted with its $4,380 all-time high on Oct. 21 but failed to breach it by a few dollars. Some analysts, including independent market analyst Scott Melker, believe that an exchange-traded fund (ETF) approval is the next logical step for the U.S. Securities and Exchange Commission (SEC).

However disappointed Ether bulls might be, they are likely to score a $78 million profit on Oct. 22’s options expiry. Bears were apparently caught off-guard as Ether accumulated a 35% gain month-to-date.