Bitcoin lost more than 6% in value last week, with its price temporarily falling below $60,000. However, QCP Capital believes Bitcoin can maintain the $60,000 support. 📉😮

On June 26, the US government transferred 3,940 BTC to Coinbase Prime. This transfer raised concerns about the possibility of the government selling some of its BTC reserves. However, according to QCP Capital's latest analysis, Bitcoin is effectively holding the $60,000 support level despite heavy bear pressure. 🐻💪

There are two main reasons for this. First, a wallet identified as the German government slowed transfers to exchanges. Second, Bitcoin ETFs have experienced net outflows of $52.4 million in the last two days, following seven consecutive days of outflows. Considering these factors, QCP Capital commented that the market is ripe for Bitcoin accumulation. 📊🚀

Bitcoin's drop below $60,000 this week attracted many buyers. In fact, holders controlling 0.1% of the total Bitcoin supply added 7,130 BTC in just one day. This may indicate that investors are confident that the price will rise from here. What do you think, what will the price of Bitcoin be? We are waiting your comments! 💬💭