📉 Bitcoin dips below $60K, but don't fret! QCP Capital's latest analysis suggests a potential rebound, especially for Ethereum. Despite the bearish trend, the options market remains bullish on ETH. 🚀

Key points:

- Bitcoin miners are capitulating, a sign often linked to price bottoms.

- Liquidation clusters on BTC and ETH could trigger potential short squeezes.

- Approvals of S-1 Forms could spark an ETH price rebound.

The SEC has greenlit forms for eight spot Ethereum ETFs. Asset managers await the effectiveness of their S-1 statements before trading can begin. This could mark a turning point for ETH.

Currently, Bitcoin trades at $57,625, while ETH stands at $3,161. Despite the market's bearish movements, the total market volume surged by 56.14% to $89.89 billion.

What are your thoughts on this market trend? Share your insights in the comments below! 💬