Cryptocurrency analysis firm QCP Capital recently provided an in-depth assessment of Bitcoin (BTC) and Ethereum (ETH) in a statement, predicting a bullish trend for both cryptocurrencies.
According to the company, the Bitcoin spot ETF experienced a 15-day inflow spree, with a significant increase of +$886.1 million. This surge in inflow marks the second largest since the ETF’s inception, indicating strong investor interest in BTC.
QCP Capital’s trading desk noted a strong bullish trend with a high volume of buy orders for the June expiration date. Analysts believe that investors are positioning themselves to break the all-time high of $74,000 in the options market this month.
Although Ethereum has been trailing behind Bitcoin in this bullish move, analysts anticipate a catch-up and potential outperformance once the Ethereum spot ETF is launched. The introduction of the Ethereum spot ETF is expected to attract a new wave of investors and potentially drive the price of Ethereum higher.
Additionally, QCP Capital predicts a significant shift from the Bitcoin ETF to the Ethereum ETF, which could further boost Ethereum’s upward momentum.
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