QCP: The overall crypto market is bullish. If ETH breaks through $2,800, it may further hit the $3,000 mark

Odaily Planet Daily Report: QCP pointed out in its market analysis that ETH rose 2% during the low liquidity period last Sunday. Although ETH outperformed BTC (11% vs 9.6%) last week, its performance in October is still lagging behind BTC (4% vs 8%). Both BTC and ETH have not yet broken through the highs of July, but are approaching the critical resistance levels of $70,000 and $2,800. Breaking these levels may attract a lot of retail attention. With only 15 days left until the US election, the stock market looks very strong, and the market is definitely bullish, as Risk Reversals across all tenors are in favor of the upside. However, as there are no major catalysts this week, BTC and ETH are expected to hover around these levels and try to break through higher levels. On the macro data front, there is only the PMI data on Thursday (October 24th), and if the Fed continues on the path of rate cuts, the market will seek some solace. Given the unexpected rebound of ETH over the weekend, the possibility of it breaking through again cannot be ruled out. If ETH breaks through $2,800, it will further challenge the $3,000 mark.