QCP Capital: The current market is more optimistic about Ethereum than Bitcoin, and a breakthrough awaits ETF approval progress

PANews reported on May 28 that QCP Capital, a Singapore-based crypto investment institution, issued a statement saying: At the opening of Asia, Ethereum rebounded from 3810 to 3940, which was likely affected by Trump’s remarks in support of cryptocurrency over the weekend. Judging from today’s price action, market participants appear to be expressing bullish sentiment toward ETH rather than BTC, especially on potential institutional demand after the ETH spot ETF began trading.

While we are structurally bullish on Ethereum, we do not expect a major breakout until we get more clarity on S-1 approvals and inflow data, it is just a matter of time. Until then, ETH front-end volatility is likely to remain higher than BTC 15-20 volatility, while Ethereum’s skew will likely continue to favor call options.