TechFlow news: QCP Capital stated that BTC has successfully defended the $67,100 level for the fourth consecutive time and continues consolidating within a range. Concerns about potential Bitcoin supply releases from Mt Gox in October could hinder BTC, but ETH may benefit following the launch of spot ETFs.
Bullish sentiment around ETH remains strong, with significant buying observed in 4k/5k ETH call options at the end of June 2024. Traders are shifting toward high-beta meme tokens such as Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE), which have seen double-digit gains and rank among the top 10 by open interest.
BlackRock has filed an amended S-1 form, and other issuers may follow suit, potentially leading to approvals in early July.
Additionally, it advised that as markets continue consolidating, accumulating ETH ahead of the spot ETF launch remains attractive.
