In the last 24 hours cryptocurrency There were significant fluctuations in the markets and BTC fell to $ 94,150. We have seen that the decline in BTC price has much larger consequences for altcoins. SHIB and many other cryptocurrencies experienced declines exceeding 25 percent. So, what are the latest predictions of QCP Capital experts about the markets?
Cryptocurrencies Review
The liquidation of long positions worth over $1.5 billion shook the funding rate in altcoins. After Trump announced his crypto-friendly SEC candidate, the fuel for the rise weakened as there were no major developments until his term of office.
XRP Coin price Although it reached the 3 dollar limit with the clarification of Gensler’s resignation date, the recent withdrawals can be considered normal as the expectation has been realized. We have the December 18 Fed interest rate decision and tomorrow’s US inflation data ahead of us. Markets continue to expect a 25bp discount for now.
QCP Capital Market Analysis
cryptocurrency Experts of the investment company recently discussed the current situation of the markets and the expectations. In their latest report, Microsoft’s current Bitcoin 
$97,364.3 voting is also mentioned. For the vote, the results of which we will see in the coming hours, the senior management asked for a negative vote on the BTC reserve issue. As a justification for this, it was stated that adding risky assets, including BTC, to the reserve had already been evaluated and that the evaluation request in the proposal was unnecessary.
QCP analysts wrote:
“Bitcoin The $1.5 billion long was hit by liquidation and experienced a decline in momentum before recovering from the critical 95,000 support. Now it is consolidating around 97-98 thousand and leaving altcoins behind.
Still, BTC and ETH spot ETFs have had an impressive streak, recording net inflows for 8 and 11 days in a row, respectively. Riot Platforms is looking to mimic MicroStrategy’s strategy by issuing $500 million in convertible notes to purchase Bitcoin.
Microsoft shareholders vote today to add BTC to the balance sheet; It would be a potential surprise for the company if it is approved despite the board’s recommendation against it. Amazon shareholders are also reportedly pushing for Bitcoin to be considered a reserve asset.
With the release of inflation data, macro fluctuations have decreased slightly due to political stability in France and Korea, while Asia is rallying with China’s stimulus promises. BTC and ETH front-end volatilities continue to remain high. “A significant catalyst is needed to revive the momentum towards the 100,000 level.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
