QCP Capital analysts believe that the situation in the Middle East will not cancel the crypto market bull run.
BUT they warn about the risks of a correction of#BTCto $55,000. Plus they note that of all the financial markets, the cryptocurrency market has suffered the most.
But in general,#QCPCapitalhas a positive view of the situation with financial markets and pays more attention not to the Middle East, the actions of China and the US Federal Reserve:
"The Israeli-Iranian conflict has escalated, but traditional financial markets remain stable. S&P is down 1%, WTI is up 2%, with minimal continuation today. Meanwhile, cryptocurrency has taken a bigger hit.
#BTC down 4%, finding support at 60k. With more conflict, we could see a drop to 55k. While tensions in the Middle East steal the spotlight, the market still looks well-traded for risk assets. Is this just a small blip in the bigger picture?
In China, policy moves are echoing Japanese tactics from the 1990s. The#PBoCliquidity push and potential fiscal support could lift asset prices, with bullish sentiment potentially spreading globally to risk assets, including cryptocurrencies.
Powell is backing a rate cut in 2024, and China appears to be following suit. With the world's largest and third-largest central banks in easing mode, asset prices could remain supported into 2025."
