BTC price After failing to test $65,000, it turned down again and fell to $62,230. We mentioned yesterday that these unsuccessful tests could cause a pullback for a deeper bottom, and that’s what happened. So what happened? QCP Analysts What is his current prediction for the markets?
QCP Analyst Comments
Bitcoin price At the time of writing, it fell back to $ 62,340 and the weakness continues. Altcoins are spending the day with losses ranging from 2 percent to 4 percent. After the last resistance test failed, BTC did what was expected and the direction turned down again. So what are the current predictions of QCP analysts? A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
“- Beyond the headline numbers, the equally weighted S&P 500 hit a new all-time high as bullish momentum extended beyond the Magnificent 7.
– Small-cap stocks have outperformed large-cap stocks in 2 of the last 3 rate cuts. Given the increasing correlation between crypto and small-cap stocks, could BTC outperform other risk assets?
– BTC spot ETFs have seen strong inflows for 12 consecutive days, while ETH spot ETFs have seen outflows for 8 days. BTC’s dominance in the options market reflects the macro-driven nature of the current rate cut regime.
“On the options desk, we saw modest call spread buying, while front-end volumes fell. These signals suggest cautious optimism, and we do not expect significant movement this week as markets await clarity on the scope of the September rate cut.”
Will Cryptocurrencies Rise?
Historically crypto money Third quarters in the markets have not been great times for investors. This third quarter does not seem to be any different from previous ones. However, considering the long-standing weakness, the historically striking performance of the last quarter could be repeated.
Moreover, in an environment where the interest rate cuts are thoroughly digested by the market, we will see many uncertainties in crypto disappear with the US elections coming to an end. On the other hand, since we are coming to the end of the summer months, if the volumes can recover, it is possible to see better weeks compared to previous months.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
