Most large-cap cryptocurrencies, including Bitcoin and Ethereum, have not exactly lived up to the hype and promise in the second half of 2024. Investors saw the general market experience a negative start to the past week, with most assets shedding a significant portion of their value. Interestingly, this recent price action has offered a unique insight into the current state of the crypto market and its relationship with the macro capital markets. Spot Bitcoin ETFs Vs. Ethereum ETFs — Relative Impact? In a recent report, trading firm QCP Capital shared their observation on the Bitcoin and Ethereum markets following the significant drawdown on Monday, August 5. According to the firm, there has been a fundamental change in the liquidity profile of ETH relative to BTC, the largest cryptocurrency by market cap. Related Reading: Bitcoin’s Latest Casualty: Miner Reserves Plunge to 3-Year Low, What’s Next For BTC? According to QCP Capital, Bitcoin is becoming increasingly incorporated into the mainstream capital markets, including the stock and bond markets. On the other hand, Ethereum — the second-largest cryptocurrency — is being pushed to ..
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