QCP Capital: Expected bullish demand and ETF spot inflows could be expected to push Bitcoin above 70,000 DO LA by the end of the week;

Odaily reports that crypto market maker QCP Capital stated in its latest research report that at the beginning of Q2 2024, crypto market activity was sluggish. Bitcoin price dropped below 70,000 DOLLARS and fluctuated in a narrow range. The size of ETF inflows is not enough to drive price movements; Funding rates have stabilized and the top of the forward curve has fallen from a high of 50% to below 20%, while the bottom of the forward curve has remained stable. high, so it can be speculated that investors are interested in longer-term spot underlying positions. This is likely because demand for long-term Bitcoin options will continue through 2025. QCP also said that expected bullish demand for Bitcoin and upward momentum from ETF spot inflows should support Bitcoin price and is expected to push Bitcoin above $70,000 by the end of the week. On the other hand, Ethereum continues to be weak. ETH/BTC is testing key support after falling below 0.05. The market continues to sell off massive Ethereum bullish options, reducing implied volatility and putting downward pressure on prices. #having #BinanceVietnamSquare $BTC