Spot Bitcoin ETF ‘mostly priced in’ as false approval got muted reaction, analysts say
QCP Capital suggests this muted reaction to false spot Bitcoin ETF approval signals a potential that the event is already priced-in, highlighting Ethereum as a ‘laggard play.’ In a Telegram post on Jan. 10, analysts at Singapore-based QCP Capital addressed the recent false approval of a spot Bitcoin ETF published on the U.S. Securities and Exchange Commission’s X account, saying that failure to break through the resistance area after the news broke might be considered as a signal that a potential ETF approval “mostly priced in.” Analysts at QCP Capital noted that amid the uncertainty, attention is now turning to Ethereum (ETH) as a potential laggard play, given that the performance of the ETH/BTC cross, which briefly dipped below the Jun. 22 low before rebounding above the 0.051 support, supports this notion. “Options vols are also elevated now due to the ETF news event, and we expect vols to move lower and normalize once an ETF approval is ...