Bitcoin ( BTC ) risks “exhaustion” as it nears the end of Q1 ,Month and week candles closes ahead ,what comes next,

till today BTC in 2024 with incredible increase of 65% in price already

BTC price slows after "exponential" Q1

Bitcoin market observers are firmly focused on the weekend as several key candles — the weekly, monthly and quarterly — close at once.

After a transformational start to the year, BTC price action continues to hover around all-time highs while still facing difficulty flipping them to new support.

For QCP Capital, the outlook for the second quarter nonetheless remains “very bullish.” It summarized:

“For Q2, there are sufficient catalysts to form a very bullish view:

1. continued BTC spot ETF demand (and shrinking supply as GBTC runs out)

2. BTC halving

3. London Stock Exchange ETNs

4. Potential ETH spot ETF approval.”

Despite this, the extent of progress since the start of the year — including the launch of the United States spot Bitcoin exchange-traded funds (ETFs) in January — has been such that bulls may have problems continuing that momentum.

“At the same time, the price rally has been exponential in Q1 and there are signs of exhaustion,” QCP explained.

It flagged declining sentiment on largest altcoin Ether ( ETH ) and persistent high funding rates across exchanges.

“While we remain bullish, we are cautious about leverage and we are also prepared to scoop some value on big dips,” the update concluded.

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