Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/qcp-analysts-monitor-bitcoin-price-movements/" data-wpel-link="internal">QCP Analysts Monitor Bitcoin Price Movements</a> 
Bitcoin (BTC) price is around $54,000, and the leading <a href="https://en.coin-turk.com/millions-of-dollars-disappeared-with-a-single-news/" data-wpel-link="internal">cryptocurrency</a> has dropped to $52,550. The ongoing decline is set to take a new turn with September’s pessimism. Historically, September has not been a good period for BTC and stocks, and it remains the same now. How do QCP analysts view the current situation? 
<h2 style="text-align: justify" id="qcp-analysts-commentary">QCP Analysts’ Commentary</h2> 
At the time of writing, QCP analysts, who closely monitor macroeconomic developments, have published their market assessment. This makes their perspective valuable. Since the decline was triggered by losses in stocks, their comments are even more significant. 
<blockquote> 
 “- The US non-farm payroll report for August was lower than expected at 142,000 (estimated 165,000), with an unemployment rate of 4.2% (same as the estimate and lower than the previous month’s 4.3%). 
 – The market’s initial reaction was positive, sending risky assets into a rally. However, the upward trend sharply reversed as the market began pricing in a 50 basis point cut in September. After the NFP, the market priced in a 55% probability of a 50 basis point cut. As of this morning, the market is pricing in a 70% probability of a 25 basis point cut and a 30% probability of a 50 basis point cut. 
 – <a href="https://newslinker.co/category/computing/" target="_blank" rel="noopener" data-wpel-link="exclude">Nvidia</a> (NVDA) continued its sales, putting pressure on broader US stock indices and crypto prices. BTC fell to $52,500 and is currently finding support at $54,000, while ETH dropped to $2,150. 
 – BTC spot ETFs also extended their 8-day losing streak.” 
</blockquote> 
QCP analysts are not very hopeful for September, so they do not seem very surprised by this situation. We need to see some positive developments that could lead to a recovery in stocks or a positive divergence in crypto. 
<h2 style="text-align: justify" id="bitcoin-chart-analysis">Bitcoin Chart Analysis</h2> 
The analyst known as Daan Crypto Trades highlights the channel where the BTC price is constantly fluctuating. The price, which has tested the bottom three times, is moving towards deeper lows within the channel. This is concerning for <a>altcoin</a> <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. In his assessment shared about an hour ago, the analyst said, “we will watch and see.” 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-386796 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/BTC-dusen-kanal.jpg" alt="" width="1386" height="797"> 
<blockquote> 
 “Bitcoin (BTC) has fallen back to a place near the lower part of the channel. This level has been tested 8 times against the peak, which has been tested 4 times. It would not be wrong to say that this channel is not good. Therefore, we definitely recommend you keep watching.” 
</blockquote> 
By “keep watching,” he means staying on the sidelines, as he mentioned yesterday that he would continue to monitor the situation. However, if BTC suddenly goes to $80,000, Daan will not cover anyone’s losses, so you should develop your own strategies. 
The post <a href="https://en.coin-turk.com/qcp-analysts-monitor-bitcoin-price-movements/" data-wpel-link="internal">QCP Analysts Monitor Bitcoin Price Movements</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

QCP Analysts Monitor Bitcoin Price Movements

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