According to ChainCatcher, QCP Capital said that despite the strong momentum in the stock market, Bitcoin still had difficulty recovering after the FOMC meeting. They believe that this divergence is because Bitcoin miners are experiencing a post-halving sell-off, which directly limits prices.
Meanwhile, Flowbank, which has a tripartite agreement with Binance, is also currently facing bankruptcy proceedings.
They expect a relatively quiet summer with low volatility and no catalysts to move the market.
For Ethereum, they don’t see an immediate spark, with Gensler not expecting approval of a spot Ethereum ETF until late summer.
They recommend early accumulation during this long quiet summer, especially for Ethereum. Ethereum’s volatility is currently trading at a 10 volatility premium to Bitcoin, and they expect the gap to close as Ethereum’s write-sellers return in anticipation of the approval of the S-1 form in late summer.
