Ethereum

Bitcoin ETF

Bitcoin

<p class="is-style-lead">Ethereum is outperforming Bitcoin, driven by market anticipation of potential spot ETH ETF approvals.</p> 
<p>Ethereum (<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/">ETH</a>) is showing signs of outperforming Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/">BTC</a>) in the midterm, according to QCP Capital’s latest market update <a href="https://www.qcp.capital/featured-article/market-update-17-jan-24/" data-type="link" data-id="https://www.qcp.capital/featured-article/market-update-17-jan-24/" target="_blank" rel="noopener">report</a>. This shift in market dynamics is linked to the anticipation of potential approvals for spot ETH ETFs.</p> 
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   <p lang="en" dir="ltr">6/ The next major crypto events are BTC halving (mid-Apr), and potential ETH Spot ETF approvals from May. In the meantime, crypto might take some direction from macroeconomic events.</p>— QCP Capital (@QCPCapital) <a href="https://twitter.com/QCPCapital/status/1747631522620846316?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 17, 2024</a>
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<p>Recently, the U.S. Securities and Exchange Commission (SEC) approved multiple spot Bitcoin ETFs, following which Ether’s value saw an uptick of <a href="https://crypto.news/ethereum-is-bullish-solana-and-nuggetrush-ecosystems-growing/" data-type="link" data-id="https://crypto.news/ethereum-is-bullish-solana-and-nuggetrush-ecosystems-growing/">over 5%</a>. In contrast, Bitcoin’s price experienced a decline of more than 6% during the same period.</p> 
<p>QCP Capital analysts project that Ethereum’s upward trajectory is likely to persist, especially with the narrative shifting toward the likelihood of ETH spot ETF approvals. Furthermore, the report highlights a notable ETH/BTC exchange rate increase, rising from 0.05 to 0.06 within a week.</p> 
<p> You might also like: <a href="https://crypto.news/qcp-capital-doubted-market-hype-after-spot-bitcoin-etfs-launch/"> QCP Capital doubted market hype after spot Bitcoin ETFs launch </a> </p> 
<p>Upcoming significant events in the crypto space, such as <a href="https://crypto.news/next-bitcoin-halving-just-15k-blocks-away/" data-type="link" data-id="https://crypto.news/next-bitcoin-halving-just-15k-blocks-away/">Bitcoin’s halving</a> in mid-April and potential spot Ethereum ETF approvals starting from May, are also expected to impact market trends.</p> 
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   <p lang="fr" dir="ltr">Part 2: ETH ETF <a href="https://t.co/qnmB7azyQN" target="_blank">pic.twitter.com/qnmB7azyQN</a></p>— Cryptik1.eth |🛸 (@Cryptik1E) <a href="https://twitter.com/Cryptik1E/status/1745776244745289934?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 12, 2024</a>
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<p>The potential for a spot Ether ETF gained further momentum following remarks from <a href="https://crypto.news/blackrocks-larry-fink-points-to-value-in-ethereum-etfs-crypto-asset-class/" data-type="link" data-id="https://crypto.news/blackrocks-larry-fink-points-to-value-in-ethereum-etfs-crypto-asset-class/">BlackRock CEO</a> Larry Fink, who acknowledged the value of such a product in the United States. BlackRock, the world’s largest asset manager, had previously filed with the SEC for a spot Ethereum ETF in November, following its application for a spot Bitcoin ETF in June.</p> 
<p>The percentage of Ether’s circulating supply in profit has also risen over the past week, reaching a multi-year high of 91.8%. Bitcoin has decreased to 86.2%, indicating growing investor confidence in Ethereum compared to Bitcoin.</p> 
<p> Read more: <a href="https://crypto.news/qcp-capital-optimistic-about-spot-btc-and-eth-etfs/"> QCP Capital optimistic about spot BTC and ETH ETFs </a> </p>

QCP: Ethereum likely to surpass Bitcoin in midterm

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