QCP Capital: Ethereum is Poised for 35% Growth
Trading firm QCP Capital has published a new report, highlighting Bitcoin's rise above $95,000 following the release of PCE index data that met expectations.
1-day chart BTC/USDT. Source: Cryptovizor cryptocurrency screener
Ethereum Leads in Growth
According to the report, Ethereum has demonstrated an impressive 11.65% growth, reaching $3,688. QCP Capital analysts underline that this movement confirms their forecast of capital flow from Bitcoin to Ethereum.
1-day chart ETH/USDT. Source: Cryptovizor cryptocurrency screener
Bitcoin's dominance has decreased from a peak value of 61.50%, while the ETH/BTC pair has strengthened to 0.0376, adding 17.8% over the week. The next important resistance level, according to analysts, is 0.04.
1-day chart ETH/BTC
Influx into Ethereum ETF
The spot Ethereum ETFs continue to attract significant volumes of funds. The net inflow on the fourth consecutive day amounted to $90.1 million, indicating that optimistic investor sentiment persists despite the recent market correction.
Fund flows into US Ethereum ETFs. Source: Farside Investors
Growth Prospects
Although Ethereum lags behind Bitcoin and Solana in the current rally, its recent strengthening sets the stage for a movement towards its historical high of $4,868, suggesting a growth potential of 35.4%.
Retrospective Analysis
The current report from QCP Capital confirms a forecast from three days ago about the capital flow from Bitcoin to Ethereum. Then, the firm's analysts pointed out the reduction in Bitcoin's dominance and increased demand for Ethereum call options. The proposed capital rotation strategy from a week ago has already yielded results: the ETH/BTC pair has increased by 17.8%.
The notably positive dynamics of spot Ethereum ETFs further affirm QCP Capital's thesis about the shift in institutional investor interest towards Ethereum.