Odaily Planet Daily News QCP Capital released the latest market analysis, the key points are as follows: -The SEC's resolution deadline for the first batch of Ethereum spot ETF applications will arrive this week: May 23: VanEck; May 24: Ark Invest/21Shares; -Last Friday, the ETH/BTC exchange rate hit its lowest point since February 2021, coupled with low interest in the options market, suggesting that the market expects application rejections or adverse events; -ETH has successfully defended the 2900 mark many times this year, forming strong support; -Given the duality of ETH as a store of value and an L1 blockchain network, if its spot ETF is approved, it may cause ETH prices to outperform BTC; -Given the obvious lack of interest in the market, the risk is that the unexpected approval of a spot ETF will catch everyone off guard, triggering a short squeeze and allowing the market to easily return to its recent highs.
