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QCP Capital points out that steady daily inflows from Ethereum ETFs might lead to an increase in ETH's value.

In Brief

According to QCP Capital, Ethereum's recent performance indicates that it is less impacted by outflows, particularly as investors prefer lower-cost ETFs instead of the pricier ETHE.

QCP Capital outlines that stable inflows from Ethereum ETFs could be a significant factor in boosting ETH's market presence.

The cryptocurrency trading firm, based in Singapore, provided insights in their latest market report, noting Bitcoin approached the $70,000 mark just as the U.S. stock market was about to open. This surge in value was fueled by enthusiasm following a weekend speech by Donald Trump, a Republican presidential candidate. However, Bitcoin's value saw a sharp decline of over $3,000 just a few hours later, dropping to below $67,000. QCP Capital The initial excitement didn't last long, primarily due to the U.S. government's move to transfer 30,000 Bitcoin, worth around $2 billion, while holding another 39,000 Bitcoin that were confiscated from Ross Ulbricht, creator of the Silk Road.

At the same time, data indicated that Ethereum performed admirably following Trump's address, despite the ongoing outflows from spot ETFs for four consecutive days; ETHBTC saw a 5% increase since the speech. Notably, the volatility premium of ETH over BTC grew to approximately 8% for long-term options, up from 4% the previous week.

Analysts at QCP Capital view ETH's solid performance as a reflection of the market's capability to become less reactive to prominent outflow numbers, especially as investors tend to favor more affordable ETFs over the pricier options. This brings up the potential for ETH to experience growth once daily inflows stabilize. compared to Bitcoin The upcoming U.S. elections will be a significant focus, but important economic events are also on the horizon, such as the Federal Open Market Committee (FOMC) meeting scheduled for Wednesday, earnings reports from major players in tech like Amazon and Meta this week, and the unemployment data set to be released on Friday. Ethereum Bitcoin seems to be indicating a bearish trend, whereas Ethereum has been experiencing some turbulence.

As of now, Bitcoin is priced at $66,549, marking a dip of over 4.62%. Over the last 24 hours, it has fluctuated between a low of $65,997 and a high of $69,932, showing signs of a bearish market following prior gains. Ethereum also faced challenges during this period, falling by more than 1.49%, trading at $3,334, while oscillating between a low of $3,264 and a peak of $3,383.

Today, the global market cap for cryptocurrencies has decreased by 3.50%, bringing it to $2.39 trillion. Conversely, the total cryptocurrency trading volume surged by 37.95% to reach $78.26 billion, based on data from CoinMarketCap. Apple Please be advised that the information here is not meant to serve as legal, tax, investment, financial, or any other type of advice. It's crucial only to invest what you can afford to lose and to seek independent financial guidance if you're uncertain. For more details, we recommend checking the terms and conditions and the help and support resources provided by the issuer or advertiser. MetaversePost is dedicated to delivering accurate and unbiased information, but keep in mind that market conditions can change rapidly.

Alisa, a passionate journalist at Cryptocurrencylistings, focuses on cryptocurrency topics, including zero-knowledge proofs and investment strategies, while exploring the vast landscape of Web3. With her knack for recognizing upcoming trends and technologies, she provides thorough coverage aimed at enlightening and engaging readers in the dynamic world of digital finance.

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Disclaimer

In line with the Trust Project guidelines Harvard has initiated legal action against the Donald Trump administration regarding a funding freeze exceeding $2 billion, raising uncertainties about the adoption of blockchain technology in academic institutions.

According to QCP Capital, Ethereum is showing impressive performance, becoming increasingly resilient to outflow metrics as investors shift from the higher-priced ETHE to more affordable ETFs.

QCP Capital: Steady Daily Inflows from Ethereum ETFs Could Enhance ETH's Position

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