According to ChainCatcher, QCP Capital said in its latest market analysis that the macro background has become more optimistic over the past week, and it believes that cryptocurrencies have bottomed out. QCP Capital remains bullish for reasons including weak labor data last week and even Powell's testimony in the Senate reiterated that market conditions are moving toward the ultimate goal. Despite the German police selling more than 6,000 bitcoins and the release of Mt Gox hanging over their heads like the sword of Damocles, Bitcoin formed a double bottom and did not fall below $54,000. The lower CPI data released tomorrow may ultimately consolidate the Fed's decision to cut interest rates in September and December. The rush of S-1 amendment submissions for ETH spot ETFs may also indicate that trading is about to begin, which we believe will happen this month, especially if the applicant announces a fee plan.