Future

bullish

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-predict-bitcoins-future-amid-recent-price-drop/" data-wpel-link="internal">Analysts Predict Bitcoin’s Future Amid Recent Price Drop</a> 
BTC price failed to test $65,000 successfully, turning downward to $62,230. Yesterday, we mentioned that these failed tests could lead to a deeper dip, which indeed happened. So, what are the current predictions of QCP Analysts for the markets? 
<h2 style="text-align: justify" id="qcp-analyst-comments">QCP Analyst Comments</h2> 
<a href="https://en.coin-turk.com/bitcoin-defies-tech-stock-correlation-carves-own-path-post-rally/" data-wpel-link="internal">Bitcoin</a> price dropped again to $62,340 at the time of writing, and weakness continues. Altcoins are experiencing losses ranging from 2% to 4% today. Following the unsuccessful resistance test, BTC did as expected and turned downward again. So, what are QCP analysts’ current predictions? 
<blockquote> 
 “- Beyond the headline numbers, the equal-weighted S&amp;P 500 reached an all-time high as the bullish momentum extended beyond the Magnificent 7. 
 – Small-cap stocks have outperformed large-cap stocks in 2 of the last 3 rate-cut cycles. Given the increasing correlation between crypto and small-cap stocks, can BTC outperform other risk assets? 
 – BTC spot ETFs saw strong inflows for 12 consecutive days, while ETH spot ETFs faced outflows for 8 days. BTC’s dominance in the options market reflects the macro-driven nature of the current rate-cut regime. 
 – On the options desk, we saw modest call spread purchases while front-end volumes declined. These signals indicate cautious optimism, and we do not expect significant movement this week as markets await clarity on the scope of the September rate cut.” 
</blockquote> 
<h2 style="text-align: justify" id="will-cryptocurrencies-rise">Will Cryptocurrencies Rise?</h2> 
Historically, the third quarters in the cryptocurrency markets have not provided <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> with great periods. This third quarter does not seem to be different from the previous ones. However, considering the long-standing weakness, the historical stellar performance of the last quarter may repeat again. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-383548 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-27_15-48-21.png" alt="" width="1175" height="541"> 
Moreover, with the market fully digesting the rate cuts and the US elections concluding, we will see many uncertainties in crypto disappear. On the other hand, as we approach the end of the summer, if volumes can recover, we may see better weeks compared to previous months. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-predict-bitcoins-future-amid-recent-price-drop/" data-wpel-link="internal">Analysts Predict Bitcoin’s Future Amid Recent Price Drop</a></h5>
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Analysts Predict Bitcoin’s Future Amid Recent Price Drop

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