QCP Capital Expects ETH Surge as ETF and Election Drive Institutional Interest
CryptoNewsTerminal Staff27 May, 2024
QCP Capital Expects ETH Surge as ETF and Election Drive Institutional Interest
Singapore-based crypto exchange QCP Capital anticipates a significant surge in Ethereum (ETH) due to the potential approval of a spot ETF and the upcoming US presidential election. The firm noted that ETH's positive correlation with the ETF narrative and the inflow data could serve as catalysts for a large-scale price increase. It also highlighted the potential impact of a Donald Trump victory or a successful ETH spot ETF launch, which would likely attract increased institutional interest. QCP Capital believes ETH's support level remains in the $3,000 range, while the current market price hovers around $3,898, a 1.87% increase. The firm's analysis suggests that these factors could contribute to a notable surge in ETH's value in the coming period.
