QCP Capital noted that ETH rose from 3810 to 3940 during the Asian opening, possibly due to Trump's pro-cryptocurrency remarks over the weekend, as reported by Wu. Market participants appear to be expressing bullish sentiment on ETH over BTC, especially with potential institutional demand after the ETH spot ETF begins trading. While we are structurally bullish on ETH, we will not see a major breakout until we have more clarity on the S-1 approval and get some inflow data.