Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
QCP Capital: The ETF spot market still signals a bullish trend

QCP Capital: The ETF spot market still signals a bullish trend

Bitget2024/06/29 01:51

QCP Capital stated in its official channel that the range of $58,000 to $60,000 is a strong support for Bitcoin in the second quarter of this year. However, this time, the market must deal with the overwhelming supply brought by Mt. Gox's unlocking and government agencies' sell-offs. QCP Capital believes that these terrifying supply figures may have been exaggerated and the market will consolidate within a certain range. Bitcoin might test lower levels at $50,000 but given global regulatory easing and continued interest from TradFi, strong support will be found there. The ETH spot ETF remains a bullish catalyst which is likely to start trading in early July. In addition, spot ETFs of other major currencies like SOL are also expected to generate some excitement.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!