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QCP Capital Says Bitcoin Price Will Rise Further: 5 Reasons Ranked! - Coin Newsletter
Cryptocurrency trading firm QCP Capital shared its weekend assessment for the cryptocurrency market.
In a post on April 6, QCP Capital included the current state of the cryptocurrency market. Acknowledging that the past week has been challenging for cryptocurrencies, analysts emphasized that there has been serious sell-off, especially on the Bitcoin and Ethereum futures side.
On the other hand, the QCP front, which stated that it expects more rises in Bitcoin** in the coming days, listed 5 different reasons.
One of these reasons was the increasing spot Bitcoin ETF inflows. Despite the ongoing sell-off by Grayscale, analysts noted that $232 million spot Bitcoin ETF inflows were seen last Thursday, and options markets also increased their bullish expectation in Bitcoin.
Additionally, BlackRock's recent addition of 5 major financial actors as participants in its spot Bitcoin ETF could create new hype on the market.
It was stated that the corrections that came 2 weeks before the Bitcoin halving also greatly reduced the swelling in funding rates**, and it was stated that all these factors could be a bullish signal for the coming weeks and days.