How Will Bitcoin and Altcoins Move This Week? Analysis Firm Reveals Its Expectations!
QCP Capital analysts said they do not expect any significant movement in Bitcoin and cryptocurrencies this week.
Bitcoin made a good start over the weekend, rising to $65,000, but retreated to $62,000 in the new week.
While FED Chairman Powell's interest rate signal in September was effective in this rise, QCP Capital analysts shared their daily analysis.
Moving on from the situation in spot Bitcoin and Ethereum ETFs, analysts said that BTC ETFs have seen strong inflows for 12 days, while ETH ETFs have seen outflows for 8 days.
Analysts stated that this situation in BTC and ETH ETFs, namely BTC's dominance in the market, reflects the macro-focused nature of the current interest rate reduction regime, and stated that modest call options were purchased on the options desk.
“Signals such as the purchase of call options and falling volatility indicate investors' cautious optimism about the market.
While markets await clarity on the extent of the first rate cut in September, we do not expect significant movement in Bitcoin and cryptocurrencies this week.”
*This is not investment advice.
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.
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