According to ChainCatcher, QCP Capital said in a statement: ETH spot price rebounded sharply from a low of $3,400, and the front-end implied volatility rose to 65%.

It believes that this strong bullish sentiment is supported by two developments: the SEC is about to end its investigation into Ethereum 2.0 and rule out the possibility of ETH sales as securities transactions. The Ethereum ETF issuer responded to the SEC's opinion and plans to submit a reply this week.

In addition, the options market reflects optimism, and call options of various maturities are actively bought. If 10-20% of the Bitcoin ETF flow is captured, the ETH price may break through $4,000 and approach the peak of $4,800.