On June 29th, QCP Capital posted on the official channel that the range of $58,000 to $60,000 was a strong support level for Bitcoin in the second quarter of this year. However, this time, the market must deal with the overwhelming supply brought by the unlocking of Mt. Gox and the selling of government entities.
QCP Capital believes that these dire supply numbers may be overstated and that the market will trade sideways within a certain range. Bitcoin may test the lower level of $50,000, but the market will find strong support there given the widespread regulatory easing around the world and interest from TradFi continues to penetrate. The ETH Spot ETF remains a bullish catalyst. It will most likely start trading in early July. Additionally, the Spot ETF for other major currencies such as SOL will also generate some excitement.
QCP Capital: ETFs Spot ETFs remain a bullish signal for the market
2024-06-29 01:19:09
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