Bitcoin's price may be hampered by uncertainty surrounding the potential Mt. Gox bitcoin supply hitting the market by October, QCP Capital's analysts said. However, according to the team's report on Thursday, this uncertainty could potentially benefit ether upon the launch of the spot ETH ETF.

"With the market consolidating in the range and eagerly awaiting the ether spot ETF launch, accumulators continue to be attractive, allowing traders to consistently accumulate ether at a discount," QCP Capital analysts added.

Mt Gox-related bitcoin supply anxiety

Bitfinex analysts agreed with the QCP Capital report, stating that supply anxiety over the upcoming Mt. Gox creditor payouts remains a concern for bitcoin.

"If creditors decide to liquidate their holdings quickly, the market could see …