QCP 分析指出，中美达成暂时关税削减协议，推动市场风险偏好上升。比特币与以太坊短时回调后分别稳定在约 10.3 万美元和 2400 美元。BTC 主导率跌破 63%，资金轮动迹象显现，ETH 受益于 Pectra 升级及期权需求回暖，表现相对强势。市场波动率整体回落，BTC 前端隐含波动率下跌逾 5 个点，VIX 波动率指数降至 18。QCP 表示，ETH 有望成为下一阶段主要配置资产。

<div>QCP 分析指出，中美达成暂时关税削减协议，推动市场风险偏好上升。比特币与以太坊短时回调后分别稳定在约 10.3 万美元和 2400 美元。BTC 主导率跌破 63%，资金轮动迹象显现，ETH 受益于 Pectra 升级及期权需求回暖，表现相对强势。市场波动率整体回落，BTC 前端隐含波动率下跌逾 5 个点，VIX 波动率指数降至 18。QCP 表示，ETH 有望成为下一阶段主要配置资产。<div> </div><br><br></div>

QCP：ETH 有望成为下一阶段主要配置资产

QCP analysis points out that China and the United States have reached a temporary tariff reduction agreement, promoting an increase in market risk appetite. Bitcoin and Ethereum briefly pulled back and then stabilized at around $103,000 and $2,400, respectively. BTC's dominance rate fell below 63%, showing signs of capital rotation. ETH benefited from the <Pectra> upgrade and the recovery of options demand, displaying relatively strong performance. Overall market volatility declined, with BTC's front-end implied volatility dropping by over 5 points, and the VIX volatility index falling to 18. QCP suggests that ETH is expected to become a major allocation asset in the next stage.

<div>QCP analysis points out that the temporary tariff reduction agreement between China and the US has boosted market risk appetite. Bitcoin and Ethereum stabilized at around $103,000 and $2,400 respectively after a short pullback. BTC's dominance rate fell below 63%, showing signs of capital rotation, and ETH performed relatively strongly, benefiting from the Pectra upgrade and warming options demand. Overall market volatility declined, with BTC's front-end implied volatility dropping by over 5 points, and the VIX volatility index falling to 18. QCP suggests that ETH is expected to become a major allocation asset in the next stage.<div> </div><br><br></div>

QCP: ETH is expected to become the main configuration asset in the next stage

According to ChainCatcher, citing Decrypt, ETH on Ethereum achieved nearly a 40% gain last week, with prices rising from $1,800 to $2,500, primarily driven by the successful <Pectra> network upgrade and improved global trade conditions. However, market data shows that this rally was mainly propelled by crypto native investors, with ETH spot ETF experiencing a net outflow of $55 million last week, in stark contrast to Bitcoin ETF's $600 million net inflow. Volatility models indicate a 20% probability of ETH breaking through $4,000 before year-end, an increase from the previous week's 9% probability. While the <Pectra> upgrade completed on May 7th enhanced network performance, analysts believe that without sustained institutional funding support and a clear regulatory framework, the upward trend may face adjustment pressure.

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