QCP Capital, a cryptocurrency analysis firm, recently released a detailed assessment of Bitcoin (BTC) and Ethereum (ETH), predicting a bullish trend for both cryptocurrencies.
According to the company, its Bitcoin spot ETF saw a 15-day inflow spree, with a substantial increase of $886.1 million. This surge marks the second-largest inflow since the ETF’s inception, indicating a strong investor interest in BTC.
QCP Capital’s trading desk also noted a significant bullish trend, with a considerable number of buy orders for the June expiration date. Analysts believe that this suggests investors are positioning themselves to surpass the all-time high of $74,000 in the options market this month.
While Ethereum has trailed behind in this bullish movement, analysts anticipate a catch-up and even potential outperformance against Bitcoin once the Ethereum spot ETF starts trading. The launch of the Ethereum spot ETF is expected to attract a new wave of investors and potentially drive up the price of Ethereum.
Additionally, QCP Capital predicts a notable shift from the Bitcoin ETF to the Ethereum ETF, which could further propel Ethereum’s upward momentum.
Please note that this article does not provide investment advice.
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