QCP Capital Commented on Bitcoin Drop: There is Hope for a Comeback!
Cryptocurrency trading firm QCP Capital made a statement regarding the current situation of the cryptocurrency market.
QCP Capital shed light on the cryptocurrency market in its report dated April 27. Analysts clearly stated that the market has been showing a bad picture in recent days, and pointed out the decreasing transaction volumes specifically for Bitcoin.
However, the report emphasizes that Ethereum option markets are predominantly sell-oriented and noted that the news flow that the SEC will not approve spot Ethereum ETFs had an impact on the price.
Stating that the current period may be a short rest period in a long-term bull run, the QCP Capital front reminded that Hong Kong will launch spot Bitcoin and Ethereum ETFs next week. It was emphasized that this situation could ignite a return for the cryptocurrency market.
It was stated that this positive catalyst could have an upward impact on the market, but it was still necessary to be prepared for all kinds of scenarios.
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