According to Odaily, QCP Capital has indicated that the market will continue to face selling pressure. This is due to the high costs associated with maintaining perpetual positions and options positions. Current creditors of Mt.Gox, the now-defunct Bitcoin exchange, may not have hedged against this.
In the short term, the market is expected to ease. This is largely due to the potential approval of an Ethereum ETF in July, which suggests that it may be a good time to buy when prices are low. The firm's analysis suggests that the market's current state may present opportunities for savvy investors who are able to navigate the volatile landscape.
QCP Capital's predictions come at a time when the cryptocurrency market is experiencing significant fluctuations. The firm's advice to buy low may be a strategic move for investors looking to capitalize on the market's current state. However, as with all investment advice, it's important to conduct thorough research and consider the potential risks before making any decisions.