According to QCP Asia's latest market analysis report, the price of Ethereum rose strongly, approaching the $4,000 mark, setting a new high since December last year. Spot ETH ETF inflows exceeded bitcoin for seven consecutive days, with a market value of only one-fifth of bitcoin, making it more sensitive to institutional funds.
At the same time, bitcoin has shown remarkable resilience. Despite the sell-off of 80,000 bitcoins by long-term holders on Friday, the market has quickly absorbed and traders have been quick to buy back. Bitcoin's market dominance has stabilized at around 60%, indicating that investors' confidence in it as a store of value has not diminished, while providing room for mainstream coins such as Ethereum to grow market share.
The market is crowded with short-term positions, with Bitcoin and Ethereum perpetual contracts reaching one-year highs of $45 billion and $28 billion, respectively, and funding rates exceeding 15%. Options market liquidity shows traders expect profit-taking in the $4,000 Ethereum and $120,000 Bitcoin areas, but institutional investors may continue to buy pullbacks.
QCP: Traders Expect Profit-Taking in the $4,000 Ethereum and $120,000 Bitcoin Zone
2025-07-28 09:59:52
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