TechFlow news: QCP Capital stated that BTC ETF net inflows were strong again, reaching $488.1 million. Last night, the trading desk observed significant purchases of call options targeting a July $100,000 strike price.
The tonight's unemployment claims report came in below expectations, and next week's CPI release could trigger BTC to reach new highs. Market expectations for interest rate cuts may also add momentum to the rebound.
Meanwhile, ETH continues to lag as SEC Chair Gary Gensler noted that ETH ETF S-1 approval would "take some time."
QCP Capital suggests that due to the S-1 approval delay, ETH is expected to continue underperforming in the short term, but will ultimately outperform BTC once ETFs begin trading.
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