"Signs of Market Capital Circulation Emerge"... Possibility of Ethereum Rebound Raised

As the US and China announced a partial tariff deferral, creating positive expectations in the risk asset market, an analysis has emerged that Ethereum (ETH) could show a good trend.

On the 13th (local time), QCP Capital stated through Telegram, "The investment sentiment in risk assets, which has recovered due to the easing of US-China trade tensions, is starting to be reflected in prices," and "Bitcoin (BTC) dominance has fallen below 63%, indicating signs of capital circulation into the altcoin market." They further stated, "Especially, altcoins centered around Ethereum could show a positive trend."

QCP noted that Ethereum's recent rise is based on fundamentals. The report stated, "The recent rise in Ethereum coincides with the timing of the Pectra upgrade," and "This rise appears to be based on structural flow rather than speculative buying." The neutral funding rate and the higher demand for put options over call options support the investors' fundamental-based buying sentiment.

Furthermore, "There is also a reappearance of capital inflow into long-term maturity options for Ethereum," adding, "This could be an early sign that market participants are beginning to recognize Ethereum as the next major investment asset."

However, they predicted a range-bound outlook for Bitcoin. QCP analyzed, "Bitcoin is positioned between being a safe asset (digital gold) and a 'representative of risk assets,'" and "In an optimistic market situation, it is likely to be range-bound for the time being."