QCP Capital: ETH may continue to rise by nearly $4,000 due to Trump's support for cryptocurrencies
2024-05-27 15:13:19
QCP Capital, a cryptocurrency market-making firm, said that the price of ETH continued to rise ahead of the imminent launch of the Ethereum ETF, which has risen by 35% in two weeks and is currently close to $4,000. QCP Capital, a cryptocurrency market-making firm, said that the price movement may stem from the pro-cryptocurrency remarks made by former President Donald Trump, the current leading Republican candidate for 2024, over the weekend. In its regular market update, QCP Capital said: "Looking at price action, market participants appear to be showing bullish sentiment towards ETH rather than BTC, especially with underlying institutional demand once the ETH spot ETF starts trading."
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