Financial research and investment company QCP Catpital evaluated the current state of the cryptocurrency market.
QCP Capital included events that could affect the cryptocurrency market in the near future in its September 14 report. Although cryptocurrencies were not mentioned at all, its analysts reported that the event of the week was the Trump-Harris match:
Despite no mention of crypto, the debate between Trump and Harris was the highlight of the week.
Harris put her decades of experience as a lawyer to good use during the debate, enlisting the support of influential figure Taylor Swift.
Analysts noted that US inflation data met expectations and that the market could take a breather in the coming period. Additionally, there were different headlines among the important headlines of the week.
Spot Bitcoin ETFs have seen positive inflows on 4 out of 5 days this week, printing +263.2 million on Friday, in contrast to net outflows last week. Outflows from GBTC are slowing, with 6.7 million inflows recorded on Friday.
Also this week on Friday, Microstrategy announced that it had purchased an additional 18,300 BTC, bringing its total holdings to 244,800 BTC.
QCP is preparing for a bullish rally on Bitcoin
Analysts also stated that they will take an upward position, stating that the interest rate cut effect may have a positive impact on prices in the upcoming period:
Despite some short-term uncertainties and potential declines, we still prefer to lock in yields and take positions in bullish scenarios ahead of the rate cut.
According to CoinGecko data, Bitcoin, which has increased by 3% in the last 24 hours, is traded at $60,104 at the time of writing.
Stay tuned for new information.
