TechFlow reported, citing Singapore-based QCP Capital, which wrote in a recent report that the spot Bitcoin exchange-traded funds (ETFs) launched in January are expected to initially face weak demand, potentially leading to a "sell the news" scenario. This could trigger short-term Bitcoin volatility and shift market focus toward Ethereum.
"Actual demand for spot Bitcoin ETFs may initially fall short of market expectations," QCP stated. "We anticipate resistance for Bitcoin in the $45,000 to $48,500 range and expect a potential pullback to the $36,000 level before the upward trend resumes."
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