QCP: Ethereum regains market attention, limited progress in US-China trade talks

Bitcoin briefly topped $110,000 in the context of the resumption of US-China trade talks, but market enthusiasm quickly waned due to the lack of a substantive breakthrough, according to QCP. At the same time, Ethereum is quietly regaining narrative dominance, with its implied volatility rising, options skewed to bullish, and ETF inflows significant ($281 million last week, $52.70 million yesterday), indicating a pick-up in institutional investor interest. With the GENIUS bill advancing in the US Senate, Circle IPO discussions resuming, and stablecoins gaining regulatory support, Ethereum's role as a tokenization and settlement infrastructure could see structural upside opportunities.