Future

bullish

Bitcoin

Higher

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-discuss-bitcoin-market-trends-and-future-predictions/" data-wpel-link="internal">Analysts Discuss Bitcoin Market Trends and Future Predictions</a> 
<a href="https://en.coin-turk.com/bitcoin-experiences-significant-price-drop/" data-wpel-link="internal">BTC</a> price remains relatively strong while altcoins have paused their rise. August is now coming to an end. The data coming this week will shape how cryptocurrencies will start in September. Higher closing levels for BTC balancing its monthly losses are motivating. 
<h2 style="text-align: justify" id="qcp-analysts-comments">QCP Analysts’ Comments</h2> 
We have had very active days this month, but a significant rise has not yet occurred. Despite normalizing above $60,000, the BTC price faced profit-taking at $65,000 and low volumes indicate weakness. QCP Analysts wrote in their latest market assessment: 
<blockquote> 
 “After Jackson Hole, our desk saw aggressive Call Spread purchases, but also witnessed intense call sales around 100k until March 2025. Does this mean the market is bullish but not expecting a breakout soon? 
 Even with higher spot prices, BTC and ETH volumes are currently skewed more towards Sales than Purchases until October. This is surprising given the overwhelming bullish sentiment. It likely shows the market is well-positioned for this move and is quick to take profits by selling calls. 
 While the price rise is decisive, volumes indicate hesitation in the market. As front-end volumes drop, BTC price is likely to continue trading in the 62k-67k range in the near term. 
 – <a href="https://newslinker.co/category/computing/" target="_blank" rel="noopener" data-wpel-link="exclude">NVIDIA</a> earnings (August 28) and US PCE (August 30) will be announced this week, but we do not expect a major surprise from these risk events. 
 The trend is your friend. Some bullish trades for Q4 might make sense.” 
</blockquote> 
<h2 style="text-align: justify" id="bitcoin-btc">Bitcoin (BTC)</h2> 
Sales concentrated above $64,380 indicate strong profit appetite at this level for BTC. Although the market is hopeful for the last quarter, the consolidation process that has been ongoing for almost two quarters has significantly dampened <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>‘ risk appetite. On the other hand, polls regarding the November elections are discouraging for Trump. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-383238 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-26_15-00-27.png" alt="" width="1815" height="836"> 
If resistance can be overcome, $68,500 can be tested. This would bring double-digit gains for altcoins in the short term. However, the safe level has not yet been reclaimed. 
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Analysts Discuss Bitcoin Market Trends and Future Predictions

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