[Bitcoin rebound is at a crossroads! What are the positive and negative signs for Bitcoin? QCP Capital analysts announced! 】
Even though investors and analysts are generally optimistic that Bitcoin will grow by 65% in 2024, analysts at QCP Capital pointed out that Bitcoin’s rally may be at risk of exhaustion. They reminded investors that Bitcoin's upward momentum may encounter difficulties in the next quarter, and the continued upward trend may be difficult to maintain.
Although QCP Capital has expressed concerns about Bitcoin, they remain optimistic about the second quarter, citing several factors that may drive Bitcoin higher:
1. Continued demand for Bitcoin spot ETFs;
2. Bitcoin halving event;
3. Cryptocurrency ETN launched by London Stock Exchange;
4. Ethereum spot ETF may be approved.
Despite Bitcoin’s exponential price growth in the first quarter, analysts have also observed signs of bullish fatigue in the market, including declining sentiment towards Ethereum ETF approvals and continued high funding rates on exchanges, which could be signs of exhaustion of the rally. .
