TechFlow news: On August 8, a new report from QCP Capital indicated that the Deputy Governor of the Bank of Japan downplayed the possibility of another rate hike in the near term, creating room for recovery in the crypto market. However, Ethereum continues to underperform. In the short term, Ethereum's upside may be constrained as Jump Trading continues liquidating its ETH holdings (remaining 21,394 $wstETH, worth approximately $63.6 million), while two Ethereum wallets linked to the Plus Token Ponzi scheme transferred a combined 25,757 ETH (worth about $63.1 million) within the past 30 hours.
QCP Capital remains bullish on Bitcoin, noting significant buying interest in call options with December and March expirations, while major funds continue rolling over their long-dated bullish positions for September.
