In its latest market analysis, QCP Capital said that since the beginning of last week, stocks and gold prices have been on the rise, but cryptocurrency prices have gone in the opposite direction. Cryptocurrency prices saw a significant gap during the US holiday on July 4, and then found support when the US market returned (net inflows into bitcoin spot ETFs exceeded $143 million). During the weekend, the cryptocurrency market was thin in liquidity, and bitcoin prices fluctuated violently. The trading range widened to $53,500 to $58,500, showing the increase in market uncertainty.
According to the analysis, this could mean that the wider volatility caused by the lack of liquidity in cryptocurrencies during non-US trading hours will become the new normal, or it may just be a summer-specific phenomenon, that is, the current market lacks a strong narrative and is influenced by the large-scale flow of bitcoin spot ETFs.
QCP Capital: Crypto Markets See Greater Volatility in Non-US Trading Hours or Become the New Normal
2024-07-08 16:02:21
Qcp capital market analysis said since the beginning of last weekdesk3cryptocurrencydesktopCrypto News
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