Ethereum

Reserve

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/qcp-analysts-provide-market-insights" data-wpel-link="internal">QCP Analysts Provide Market Insights</a><br></p>
<p style="text-align: justify">Short-term market fluctuations remain, with <a href="https://en.bitcoinhaber.net/man-embarks-on-legal-quest-for-lost-560-million-bitcoin-treasure" data-wpel-link="internal">Bitcoin</a> (BTC) rising above $60,000 again after a recent decline. Despite this increase, the selling pressure from the March peak continues, and trading volumes are still weak. Additionally, the risk appetite in altcoins has been significantly affected. What insights do QCP analysts offer?</p> 
<h2 id="qcp-analysts-market-commentary">QCP Analysts’ Market Commentary</h2> 
<p style="text-align: justify">As of now, BTC stands at $60,270, and the latest market close saw the release of promising NVIDIA data, which initially seemed poised to positively impact risk markets. However, Bitcoin’s minimal climb fell short of expectations. QCP analysts noted that NVIDIA’s impressive earnings report triggered a classic “sell <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">the news</a>” reaction, causing Bitcoin to fall to $59,000, with Ethereum (ETH) stabilizing around $2,500.</p> 
<h2 id="how-will-market-trends-unfold">How Will Market Trends Unfold?</h2> 
<p style="text-align: justify">The analysts observed that front-end trading volumes surged overnight with the drop in spot prices but then decreased by about 10% following the NVIDIA report. Risk reversals until October remain skewed towards Puts for both BTC and ETH, signaling market caution regarding potential downside risks. Ahead of the upcoming non-farm payroll report, QCP expects market volatility to continue its downward trend as traders brace for potential Federal Reserve rate cuts. Tonight’s US GDP report is unlikely to significantly impact crypto, especially if it supports the ongoing narrative of a slowing US economy.</p> 
<h2 id="user-usable-inferences">User-Usable Inferences</h2> 
<p style="text-align: justify"><strong>Key Takeaways for Investors:</strong></p> 
<ul> 
 <li>Bitcoin’s resistance at $61,700 indicates a potential risk of falling to $55,000.</li> 
 <li>Ethereum remains below $2,600, highlighting ongoing market challenges.</li> 
 <li>Weakened risk appetite and narrow price ranges suggest continued lackluster movements.</li> 
 <li>Regulatory actions, such as the SEC’s battle against a major NFT platform, may further stifle market dynamics heading into the November elections.</li> 
</ul> 
<p style="text-align: justify">Overall, <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a> should remain cautious and prepared for continued market fluctuations as the fourth quarter progresses.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/qcp-analysts-provide-market-insights" data-wpel-link="internal">QCP Analysts Provide Market Insights</a></h5>

QCP Analysts Provide Market Insights

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