According to Odaily, QCP Capital has stated that despite negative news regarding Mt. Gox and last week's DMM hacking incident, the market continues to maintain a bullish stance. The firm believes that the ongoing bullishness is due to the market anticipating new demand brought about by the Ethereum spot ETF. This is reflected in the options market, where Ethereum's volatility remains 15% higher than Bitcoin's.
Another reason for the continued bullishness is speculators anticipating the approval of spot ETFs for other mainstream cryptocurrencies in the near future, thereby increasing long positions. Despite the negative news, the market's resilience and anticipation of new developments in the cryptocurrency sector have kept the bullish sentiment alive.