#BTC# #ETH# #DOGE# The improved relations between the USA and China help restore investor confidence in global markets, and cryptocurrencies are no exception.

According to Singapore-based QCP Capital, the temporary agreement between the two powers on tariffs has led to a recovery in risk sentiment, with Ethereum emerging as a major beneficiary.
In their latest market review, QCP notes that Bitcoin and ETH have stabilized at levels of around $103,000 and $2,400 respectively, following a brief decline. While prices remain stable,
Ethereum is showing signs of hidden strength, fueled by the growing interest in options and the optimism surrounding Pectra.
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Bitcoin's dominance in the market has fallen below 63%, which QCP views as an early signal for a capital reallocation towards altcoins. ETH, in particular, is gaining momentum with the reduction in market volatility. QCP observes a significant decrease in the short-term volatility of BTC, while the CBOE VIX index has also dropped to 18, suggesting a weakening of fear in financial markets, sharing:
The combination of the strength of ETH, the demand for derivatives, and macroeconomic factors puts Ethereum in an excellent position to take the lead in the next market cycle.
With Bitcoin entering a consolidation phase and the improvement of global liquidity conditions, investors seem to be positioning themselves for a broader altcoin rally, with ETH leading the way.