QCPCapital
23,379 views
6 Posts
Hot
Latest
Guy! 🤯 QCP Capital just dropped a huge 100.5 $WBTC bomb on #Binance ! 💣
That's over $5.87 million in #Bitcoin wrapped up! This is their first WBTC deposit in five months and the biggest one in a year. 👀 Something big brewing? 🤔
DYOR! #WhaleAlert #QCPCapital #WBTC
Thanks SpotOnChain for info!! 🙏
That's over $5.87 million in #Bitcoin wrapped up! This is their first WBTC deposit in five months and the biggest one in a year. 👀 Something big brewing? 🤔
DYOR! #WhaleAlert #QCPCapital #WBTC
Thanks SpotOnChain for info!! 🙏
Could Bitcoin Rally Again in September?
Despite the current decline in the Bitcoin price, a forecast for an increase from September to December is shared. Analysts expect major fire displays during the US election.
QCP Capital's latest report shows that Bitcoin price consolidation could continue for two months, with the next bull run starting in September 2024. At the time of the news, Bitcoin price was trading at $64,362, down 0.1%, with a market cap of 1,268.
According to the latest report from QCP Capital, Bitcoin price remains limited in the short term. Trading activity shows massive sales of Bitcoin call options expiring next month.
However, #QCPCapital expects a significant upward move by the end of the year. Despite the current decline, there was aggressive purchasing of call options from September through December. This clearly indicates expectations for a summer consolidation followed by major market movements around the US elections.
The report also states that miners were under intense pressure to sell due to high breakeven prices during the recent Bitcoin halving. This selling pressure looks set to continue, delaying Bitcoin price recovery.
As a result of this sell-off, miner Bitcoin holdings have fallen to 14-year lows and total reserves have fallen by more than 5,000 BTC since the beginning of the year.
Additionally, the market has also sparked concerns with reports of a new large supply coming from the German government. Earlier this week, the German government implemented a plan to sell as many as 3,000 Bitcoins at 47,000 $BTC
Finally, it is important to note that there has been a sustained sell-off from the #ETF market, with spot #Bitcoin ETFs registering more than $500 million last week. This shows a lack of confidence among institutional players who are waiting on the sidelines for Bitcoin to reverse its trajectory.
QCP Capital also noted that there were several positive developments this week that contributed to the bullish outlook for BTC.
Despite the current decline in the Bitcoin price, a forecast for an increase from September to December is shared. Analysts expect major fire displays during the US election.
QCP Capital's latest report shows that Bitcoin price consolidation could continue for two months, with the next bull run starting in September 2024. At the time of the news, Bitcoin price was trading at $64,362, down 0.1%, with a market cap of 1,268.
According to the latest report from QCP Capital, Bitcoin price remains limited in the short term. Trading activity shows massive sales of Bitcoin call options expiring next month.
However, #QCPCapital expects a significant upward move by the end of the year. Despite the current decline, there was aggressive purchasing of call options from September through December. This clearly indicates expectations for a summer consolidation followed by major market movements around the US elections.
The report also states that miners were under intense pressure to sell due to high breakeven prices during the recent Bitcoin halving. This selling pressure looks set to continue, delaying Bitcoin price recovery.
As a result of this sell-off, miner Bitcoin holdings have fallen to 14-year lows and total reserves have fallen by more than 5,000 BTC since the beginning of the year.
Additionally, the market has also sparked concerns with reports of a new large supply coming from the German government. Earlier this week, the German government implemented a plan to sell as many as 3,000 Bitcoins at 47,000 $BTC
Finally, it is important to note that there has been a sustained sell-off from the #ETF market, with spot #Bitcoin ETFs registering more than $500 million last week. This shows a lack of confidence among institutional players who are waiting on the sidelines for Bitcoin to reverse its trajectory.
QCP Capital also noted that there were several positive developments this week that contributed to the bullish outlook for BTC.
