According to TechFlow, QCP Capital said that despite the negative news about Mt. Gox and last week's DMM hacker attack, the market remains stubbornly bullish.
QCP Capital believes that the market continues to be bullish because the market is waiting for new demand from the Ethereum spot ETF. The options market reflects this, and Ethereum volatility is still 15% higher than Bitcoin volatility.
Another reason for the continued bullishness is that speculators are increasing their long positions in anticipation of spot ETFs for other major cryptocurrencies being approved in the near future.
