Crypto enthusiasts expected Ethereum (ETH) to flip Bitcoin (BTC) after the Merge, the Ethereum 2.0 upgrade in September 2022. But nothing has happened so far. 

Moreover, on Sep. 1, the United States Securities and Exchange Commission (SEC) delayed the approval of the Ethereum Futures exchange-traded fund (ETF) and a spot Bitcoin ETF. 

While ETH drops in an already depressed market, VC Spectra (SPCT) is firm in its ongoing presale.

Hopes for ETH bull run fade after SEC postponements

ETH bulls were confident after the Merge in September 2022. However, prices are pinned below the $2,000 mark after briefly trading above it in July 2023. 

This surge followed a court ruling that supported Ripple’s arguments versus the SEC. 

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