đđQCP: Bitcoin and Ethereum May Be Stagnant Until This Date, Watch Out for This Opportunity đđ
According to QCP analysts, Bitcoin and altcoin markets may stagnate in the short term, but a revival is expected in October.
Crypto markets rose for the third consecutive day yesterday. Bitcoin (BTC) retested the $ 64,000 level, while Ethereum (ETH) regained $ 2,500.
This rally was supported by strong money flows into spot ETFs for both BTC and ETH. In the last two days, there was a net inflow of $ 250.3 million into BTC ETFs and $ 8.1 million into ETH ETFs.
Opportunities May Emerge in October
The report published by QCP states that the markets are looking at the US PCE report to be announced on Friday next week. No significant developments are expected in terms of macroeconomics until this date.
Analysts have assessed that "There may be a temporary pause in crypto prices" during this process. As of Saturday morning, Bitcoin is trading just below the $63,000 level.
On the options side, short-term BTC volatility fell 6 points from yesterday's peak, indicating that the decline in volatility continues along with the market's expectation of normalization in monetary policy.
QCP stated, "In this environment of low volatility and an upward trend, BTC's wide trading range offers attractive opportunities for those who want to focus on the rise, especially as we approach October, known as 'Uptober'."
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