According to Odaily, QCP Capital has reported that Bitcoin (BTC) has successfully maintained its position at $67,100 for the fourth consecutive time within two weeks. This shows a consistent consolidation within the range. However, there are market concerns that the potential release of a portion of Bitcoin supply by Mt Gox in October could hinder BTC's progress.
On the other hand, Ethereum (ETH) could benefit following the launch of its spot ETF. There is a strong bullish sentiment for ETH, with a large number of buyers purchasing bullish options with strike prices of $4,000/$5,000 due at the end of June.
Traders are turning their attention to high beta Meme tokens such as Shiba Inu (SHIBA), Dogecoin (DOGE), and Pepe (PEPE). These tokens have seen double-digit increases, and their contracts rank in the top 10 for open positions.
In other news, BlackRock has submitted a revised S-1 form, and other issuers may follow suit. Approval could arrive in early July. QCP Capital suggests that as the market consolidates within the range, waiting for the launch of the ETH spot ETF, accumulating ETH still holds appeal.