According to Odaily Planet Daily, QCP Capital said in its latest market analysis that BTC fell below the $60,000 support level under heavy selling pressure, hitting a low of $57,875. BTC miners are showing signs of capitulation, which historically usually means that prices have bottomed out. The last comparable decline in computing power occurred in 2022, when Bitcoin was trading at $17,000. In addition, despite the severe sell-off in the crypto market, the options market remains optimistic, especially for ETH call options expiring in September and December. QCP Capital believes that given the recent selling pressure from Bitcoin, driven by factors such as Mt.Gox, miners and government regulation, we believe that ETH has the potential for a stronger rebound due to the upcoming Ethereum spot S-1 filing.