QCP Capital: Mt Gox creditors may have no hedge positions, and the market is still facing selling pressure

According to TechFlow, QCP Broadcast's latest analysis points out that the Bitcoin trading price once fell to $58,500, hitting the 200-day exponential moving average (EMA) and the bottom of the range, and has now rebounded to $61,500. The market is expected to continue to face selling pressure as it digests the impact of 140,000 BTC on prices, especially as Mt Gox creditors may not have hedged their positions. QCP recommends buying on dips in the short term due to the potential positives of the ETH ETF that may be launched in July.