According to BlockBeats, QCP Capital announced on June 19 that the ETH spot price has recovered significantly from the early market low of $3,400, with implied volatility at the front end rising to 65. Despite the uncertainty surrounding the adoption of the ETH spot ETF, if it can capture 10-20% of Bitcoin ETF flow, it could potentially push ETH to break through the $4,000 mark.

      The rebound in the ETH spot price points to a positive market reaction, despite the early market low. The increase in implied volatility indicates increased market activity and potential for further price movement.

       Adoption of the ETH Spot ETF remains uncertain, but the potential to capture a significant portion of Bitcoin ETF flows could provide a significant boost to the ETH price. If the ETH Spot ETF can capture 10-20% of Bitcoin ETF flows, this could potentially push the ETH price above the $4,000 mark. This would be a significant milestone for ETH and could lead to further price increases in the future.

   Ethereum price performance:


       After the bearish reversal from the 3800-dollar mark, ETH's price action is turning the consolidation range into a lower high. The downtrend drops Ethereum to $3500, with the rejection of the price indicating a possible recovery.
   
  In the last 72 hours, the ETH price has drawn a morning star pattern on the daily chart, with an intraday gain of 2.30%. With a bullish candle completing the morning star, the price action shows a double bottom formation.

With a neckline at $3,615, the bullish reversal pattern can re-establish an uptrend on a breakout rally. Furthermore, the long-tail candles forming at $3,500 highlight the underlying demand that increases the chances of an uptrend.