Bitcoin enters a consolidation period, QCP Capital: The price will fluctuate between $61,000 and $70,000 before the fourth quarter!

QCP Capital's latest analysis points out that Bitcoin (BTC) has successfully returned to the familiar range of $61,000 to $70,000, and the current market's selling supply is gradually decreasing. This phenomenon has been particularly evident in the past 12 days, with spot ETFs having net inflows for as many as 10 days, showing the market's continued demand for Bitcoin.

Despite the recent calm market performance, Bitcoin is quietly looking for a new narrative, which may become a key driving force to break through the current consolidation range. QCP Capital emphasizes that although Nvidia's earnings report next week and a possible interest rate cut in September are the focus of market attention, they predict that spot prices will continue to fluctuate in this range before the fourth quarter.

For investors who hold long-term positions, short-term volatility should be seen as an opportunity to adjust their positions rather than a reason to flee in panic. It is recommended to adopt a prudent operating strategy, combine technical analysis to determine key support and pressure levels, flexibly respond to market changes, and avoid blindly following the trend.

Lao Lin issued a reminder: The market is always full of uncertainty, but there are opportunities in volatility. Pay attention to the latest developments, make wise decisions, follow the rhythm of the market, and seize the key moments!

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