An influential cryptocurrency analyst is cautioning Ethereum (ETH) traders that they shouldn’t expect the approval of an ETH exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) any time soon. Michaël van de Poppe, a well-known crypto trader, is informing his 715,800 followers on the social media platform X that they may have to wait a bit longer for an ETH ETF. He believes that the chances of approval in August are positive, even though Ethereum is currently being sold off. Van de Poppe predicts that if the ETF is approved, Ethereum will outperform. The current volatility in the crypto markets is seen as an opportunity for crypto investors, according to Van de Poppe. He advises investors to take advantage of the current situation and buy Bitcoin, Chainlink, or any altcoin during a correction. He also suggests trading newer altcoins instead of the older ones, as the latter have been providing poor returns. As for the recent Federal Open Market Committee (FOMC) data, Van de Poppe believes it is contributing to the current rally in Bitcoin and a broader altcoin bull run. He notes that terrible economic data is causing the US dollar index to decline, which in turn increases the likelihood of rate cuts and boosts risk-on assets. Van de Poppe concludes that the altcoin bull market has started, with Bitcoin reaching $61,600 at the time of writing.