In a recent statement, analysts at cryptocurrency analysis firm QCP Capital made an in-depth assessment of Bitcoin (BTC) and Ethereum (ETH), predicting a bull market trend for both cryptocurrencies.
The company highlighted that its Bitcoin spot ETF experienced a 15-day inflow spree with a significant increase of +$886.1 million just yesterday. This marks the second largest inflow since the ETF's inception and indicates strong investor interest for BTC, according to analysts.
QCP Capital's trading desk observed a strong bullish trend with a significant amount of buy orders for the June expiration date. According to analysts, this indicates that investors are positioning themselves to decisively break the all-time high of $74,000 in the options market this month.
While Ethereum has lagged in this bullish move, analysts are expecting a catch-up and possibly even outperformance against Bitcoin once the Ethereum spot ETF begins trading. The launch of the Ethereum spot ETF is expected to bring a new wave of investors to the market and potentially push the Ethereum price higher.
The company also predicts that there will be a significant shift from the Bitcoin ETF to the Ethereum ETF, which could provide additional upward momentum for Ethereum.
*This is not investment advice.