Trump’s pro-crypto comments could drive ETH higher

QCP Capital noted that ETH rose from 3,810 to 3,940 during the Asian open, possibly due to Trump’s pro-crypto comments over the weekend, Wu said. Market participants appear to be expressing bullish sentiment towards ETH rather than BTC, especially on potential institutional demand after the ETH spot ETF began trading. While we are structurally bullish on ETH, we won't see a major breakout until we get a clearer picture of the S-1 approval and get some inflow data.