QCP Capital: ETH has stronger rebound potential, bullish sentiment is particularly evident in options expiring in September and December

PANews reported on July 4th that Singaporean crypto investment firm QCP Capital stated it was another day of heavy selling pressure, causing BTC to break through the $60,000 support level and hit a low of $57,875. BTC miners are showing signs of capitulation. Historically, this is related to the price falling to its bottom; the last comparable hash rate drop occurred in 2022 when BTC traded at $17,000. Despite cryptocurrency sell-offs, the options market remains optimistic as we continue to see strong interest from investors in ETH call options expiring in September and December. Considering recent sell-off pressures triggered by BTC and factors driven by Mt.Gox, miners and government regulations, we believe that due to the upcoming submission of S-1 files, ETH has stronger rebound potential.