QCP Capital: BTC successfully defended the $67,100 level, and ETH spot ETF may benefit after launch

According to TechFlow, QCP Capital said in a statement that BTC has successfully defended the $67,100 level for the fourth consecutive time and continued to consolidate within the range. Concerns that Mt Gox may release Bitcoin supply in October may hinder BTC, but ETH spot ETFs may benefit after their launch.

ETH bullish sentiment is strong, and a large amount of buying is observed for 4k/5k ETH call options at the end of June 2024. Traders turned to high-beta Meme coins such as Shiba Inu (SHIBA), Dogecoin (DOGE) and Pepe (PEPE), which have risen by double digits and are ranked in the top 10 in terms of holdings.

BlackRock submitted a revised S-1 form, and other issuers may follow suit, and approval may come in early July. In addition, it gave a trading suggestion that as the market consolidates within the range, waiting for the launch of the ETH spot ETF, accumulating ETH remains attractive.