QCP: “We don’t see a major breakout until we have more clarity on the S-1 approvals”

QCP Capital, one of the major crypto-focused service companies in the Far East and Asia region, stated that the most important development for an upward price breakout in Ether will be the opening of ETH spot ETFs in the US. “While we are structurally positive ETH, we don’t see a major breakout until we have more clarity on the S-1 approvals” the company said in its analysis.

QCP: “We don’t see a major breakout until we have more clarity on the S-1 approvals”

QCP Capital, a Singapore-based cryptocurrency trading and services company, talked about the importance of spot ETFs for a price rise in Ether in its analysis today.

“We have bullish expectations for Ether”

Stating that there are structural expectations for an increase in the price of Ether, company analysts used the following statements:

“ETH rallied from 3810 to 3940 during Asia open, likely from Trump’s pro-crypto comments over the weekend. From today’s price action, it seems that market participants are expressing their bullishness in ETH rather than BTC, especially with the potential institutional demand once the ETH spot ETF starts trading. While we are structurally positive ETH, we don’t see a major breakout until we have more clarity on the S-1 approvals and get some inflow data, which should only be a matter of time. Until then, ETH frontend vols could remain 15-20 vols above BTC and ETH skew is likely to remain in favour of Calls.”

QCP analysts said last week that they expect a bullish movement in the 2nd largest cryptocurrency similar to Bitcoin after the Ether ETFs opened for trading.

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