TechFlow News: QCP Capital stated that despite negative headlines surrounding Mt. Gox and last week's DMM hack, the market remains stubbornly bullish.
QCP Capital believes the sustained bullish sentiment stems from market anticipation of new demand driven by the upcoming spot Ethereum ETF. This is reflected in options markets, where Ethereum's volatility remains 15% higher than Bitcoin's.
Another factor supporting continued bullishness is speculators increasing their long positions in expectation of imminent approvals for spot ETFs of other major cryptocurrencies.
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