Bitcoin ETF

Bitcoin

Read

<p class="is-style-lead">Crypto asset trading firm QCP Capital predicts Bitcoin to reach a new all-time high post-halving, driven by the wider liquidity rotation.&nbsp;&nbsp;</p> 
<p>According to the firm’s latest <a href="https://t.me/QCPbroadcast/1168" target="_blank">market update</a>, Bitcoin ETF inflows hit a peak on March 12, with over $1 billion entering the market. However, a subsequent decline in net inflows and a significant outflow of $326.2 million—the largest to date—led to a sharp drop in Bitcoin’s price to $60,770, before it recovered to over $63,000. <a href="https://crypto.news/price/bitcoin/">Bitcoin’s</a> daily trading volume has declined by 8% today, indicating a potential slowdown in liquidation.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">2/ In <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BTC</a>, early spot ETF tracking shows a record outflow for GBTC of -$642.5m. <br><br>We will be closely tracking the aggregate ETF flow numbers today. A nett negative would be a distinctly bearish signal.</p>— QCP (@QCPgroup) <a href="https://twitter.com/QCPgroup/status/1769930915374096878?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 19, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The firm speculates whether these movements indicate a trend towards net daily outflows or merely position adjustments ahead of the Federal Open Market Committee (FOMC) meeting. The Fed had previously hinted at three rate cuts this year, with the market aligning expectations accordingly. Fed rate cuts typically boost Bitcoin prices by reducing the appeal of yield-bearing assets, making non-yielding assets like Bitcoin more attractive to investors.</p> 
<p> You might also like: <a href="https://crypto.news/why-is-crypto-down-today-the-market-wide-cooldown/"> Why is crypto down today? The market-wide cooldown </a> </p> 
<p>Persistent <a href="https://crypto.news/bitcoin-interest-in-argentina-hits-20-month-high-as-inflation-soars-above-270/">inflation</a> and rising costs across energy, housing, and supply chains may prompt a reevaluation, potentially reducing the forecast to two cuts. According to QCP Capital, such an outcome could negatively impact Bitcoin’s spot price.&nbsp;</p> 
<p>Despite these uncertainties, the firm remains optimistic about <a href="https://crypto.news/bitcoin-outpaces-usd-since-inception/">Bitcoin’s</a> trajectory, citing a “broad liquidity rotation” that could propel the cryptocurrency to new highs after its next halving event. They acknowledge the possibility of a severe short-term correction due to existing leverage. However, they recommend traders to adop strategies like the Enhanced Sharkfin, offering principal protection and significant upside potential, to navigate the volatility. According to QCP, this approach provides an optimal balance, minimizing downside risk while maximizing the chances of profiting from an upswing in Bitcoin’s value.</p> 
<p> Read more: <a href="https://crypto.news/stx-price-jumps-amid-market-downturn-following-nakamoto-upgrade-approval/"> STX price jumps amid market downturn following Nakamoto upgrade approval </a> </p>

QCP Capital predicts a larger bull run post-Bitcoin halving

crypto.news

在 2024年3月20日發表的其他文章

Korea’s security token group KSTO signs MOU with blockchain developer Metalab

Bitcoin Liquidity Exploding, The “Alameda Gap” Is No More

Magmic announces officially licensed MLB idle tycoon Web3 game

Game On: The Epic Rise of GAM3S.GG from Visionary Polkastarter Community Members

Shiba Inu’s Shibarium Sees Staggering 99% Decline In Transactions, What’s Happening?

Milady Meme Coin Price Prediction: LADYS Pumps 10% As This Dogecoin 2.0 Presale Goes Ballistic Wi...

訂閱免費電子報，每天收取加密貨幣最新動態！