Search Results for: QCP Capital

The likelihood of a Bitcoin spot ETF in the US remains low despite BlackRock’s application, according to QCP Capital. The SEC has rejected all spot ETF applications so far, and skepticism over approval continues under current SEC leadership. However, institutional interest in BTC and ETH remains strong, with Grayscale Bitcoin Trust showing remarkable recovery.

Bitcoin and Ether prices could break free from their consolidation phase by July, according to trading firm QCP Capital. As the US debt ceiling issue resolves, a more bullish bias is predicted for both cryptocurrencies. However, investors should consider potential risks and uncertainties before making any investment decisions.

This excerpt highlights the potential impact of a short squeeze in the U.S. dollar on leading cryptocurrencies, such as BTC and ETH. Singapore-based QCP Capital warns that this squeeze could result in significant drops, as the negative correlation between the dollar index and cryptocurrencies intensifies.

The U.S. SEC nears the deadline for the approval or rejection of the first ether ETF which, according to a report by K33 Research, could cause a considerable boost in ether’s price. Comparing it to the 60% gain bitcoin experienced upon the launch of its first futures-based ETF, the analyst suggests a favorable market impact. Despite the SEC’s delay and consequent dip in bitcoin’s fortune, aggressive accumulation is recommended due to long-term potential.

Last week was particularly harsh for BTC, plunging nearly 11% amidst a potential legal ruling involving Grayscale and U.S regulators. The continuous case continues to cloud over BTC’s market position. Similar downturns were experienced across the broader crypto market, largely due to devastating market structures or macroeconomic factors.

In the midst of low volatility periods for cryptocurrencies, Bitcoin and others experienced a significant drop with liquidations on futures surpassing $160 million in 24 hours. This included Bitcoin futures, which amassed nearly $50 million in losses. Meanwhile, traders show a decreased risk-on sentiment, opening more positions but with less leverage. This plunge and slew of liquidations could be a critical signal for traders’ future positioning.

“Amidst market fluctuations, cryptocurrencies like Bitcoin and Ethereum experienced value shrinkage. While Bitcoin’s low trading signifies potential bear market, Ethereum’s slump further bolsters the possibility. Despite uncertainties, the evolving dynamics of this landscape in relation to global economy are important to track.”

The rush to apply for a Bitcoin ETF has rejuvenated the bulls, but this news may only boost the price to a certain distance. Bitcoin remains the center of attraction with its market dominance near 50%. K33 Research analysis found that Bitcoin investment outperforms altcoin portfolios in the long term.

A single entity recently purchased over 57,000 contracts of ether’s June expiry call option at a $2,200 strike price, selling an equal number of September expiry call contracts. This trade, involving large transactions outside the open market, represents a short call calendar spread strategy designed to profit from significant price shifts away from the strike price. The investor likely expects ether prices or volatility to rise after the June expiry.

Bitcoin and Ether experienced gains amid unresolved US banking crisis and declining job openings. Layer 2, Stacks, soared 177% over three months after Binance announced support for its upgrade. Meanwhile, new crypto PEPE token surpassed dogecoin and shiba inu in trading volumes.