QCP Analysis Report: Bitcoin Bull Market Can Reach New Highs After Fed Interest Rate
Key Points:
- The Bitcoin bull market continues despite recent fluctuations, with QCP Analysis predicting upward momentum post-halving in April.
- Spot Bitcoin ETF inflows peaked at over $1 billion but have since decreased, coinciding with a temporary dip in Bitcoin’s price due to the largest single-day outflow of -$326.2 million.
- The Federal Reserve’s interest rate decision and potential inflation concerns may impact Bitcoin’s spot price, while historical trends suggest halving events could support price levels.
According to a recent QCP Analysis report, despite recent fluctuations, the Bitcoin bull market is far from over, with upward price momentum expected to persist even after the upcoming halving event in April.
Read more: What is Bitcoin Halving? Why is this event of interest?
Bitcoin Bull Market Persists: QCP Analysis Report
Spot Bitcoin ETF inflows reached a peak of over $1,045 million on March 12, but since then, net inflows have dwindled, coinciding with a decline in spot prices. Notably, there was a significant net outflow of -$326.2 million overnight, marking the largest single-day outflow recorded to date. This triggered a temporary dip in Bitcoin’s price to a low of 60,770 before rebounding above 63,000.
The Federal Reserve’s decision on interest rates on March 20 also impacted Bitcoin, with expectations of potential rate cuts in the coming months. However, concerns over inflation and rising costs could influence the Fed to reconsider its plans, potentially impacting Bitcoin’s spot price.
Bitcoin’s Price Outlook In Near-term
Despite these fluctuations, QCP Analysis maintains that the Bitcoin bull market remains intact, predicting a surge to new highs post-halving. However, caution is advised due to the potential for violent near-term corrections, exacerbated by existing leverage in the market.
Bitcoin has experienced remarkable growth, surging over 125% in the past year and reaching a record high of nearly $73,800 last week. Factors contributing to its price support include the introduction of spot Bitcoin exchange-traded funds in the U.S. in January and the upcoming halving event, historically known to bolster prices by reducing the digital coin’s supply.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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QCP Analysis Report: Bitcoin Bull Market Can Reach New Highs After Fed Interest Rate
Key Points:
- The Bitcoin bull market continues despite recent fluctuations, with QCP Analysis predicting upward momentum post-halving in April.
- Spot Bitcoin ETF inflows peaked at over $1 billion but have since decreased, coinciding with a temporary dip in Bitcoin’s price due to the largest single-day outflow of -$326.2 million.
- The Federal Reserve’s interest rate decision and potential inflation concerns may impact Bitcoin’s spot price, while historical trends suggest halving events could support price levels.
According to a recent QCP Analysis report, despite recent fluctuations, the Bitcoin bull market is far from over, with upward price momentum expected to persist even after the upcoming halving event in April.
Read more: What is Bitcoin Halving? Why is this event of interest?
Bitcoin Bull Market Persists: QCP Analysis Report
Spot Bitcoin ETF inflows reached a peak of over $1,045 million on March 12, but since then, net inflows have dwindled, coinciding with a decline in spot prices. Notably, there was a significant net outflow of -$326.2 million overnight, marking the largest single-day outflow recorded to date. This triggered a temporary dip in Bitcoin’s price to a low of 60,770 before rebounding above 63,000.
The Federal Reserve’s decision on interest rates on March 20 also impacted Bitcoin, with expectations of potential rate cuts in the coming months. However, concerns over inflation and rising costs could influence the Fed to reconsider its plans, potentially impacting Bitcoin’s spot price.
Bitcoin’s Price Outlook In Near-term
Despite these fluctuations, QCP Analysis maintains that the Bitcoin bull market remains intact, predicting a surge to new highs post-halving. However, caution is advised due to the potential for violent near-term corrections, exacerbated by existing leverage in the market.
Bitcoin has experienced remarkable growth, surging over 125% in the past year and reaching a record high of nearly $73,800 last week. Factors contributing to its price support include the introduction of spot Bitcoin exchange-traded funds in the U.S. in January and the upcoming halving event, historically known to bolster prices by reducing the digital coin’s supply.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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