Bitcoin’s setback below $61,000 triggered a market-wide correction. Despite the inflow of fresh capital, the leading crypto asset registered 15% in weekly losses at one point after hitting new all-time highs earlier this month.
QCP Capital’s analysis suggests that the Bitcoin bull market is far from over while simultaneously highlighting a continued liquidity rotation, which is likely to propel the asset to new highs post-halving. Having said that, a “violent” near-term correction due to lingering leverage might transpire.One of the main catalysts of the Bitcoin rally this year and the subsequent improvement in investor confidence is the spot Bitcoin ETF inflows, which peaked on March 12 at a whopping $1.045 million.
However, continued inflationary pressures, particularly in energy, housing, and supply-side expenses, may compel the Fed to reconsider its stance, potentially reducing the expected cuts from three to two. Such a hawkish shift in policy could exert downward pressure on Bitcoin spot prices.that Bitcoin will rebound soon. Expressing confidence in Bitcoin’s price, Woo added the recent pullback was merely a halt in the asset’s journey to a new peak.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »