% 1.91
BTC Dominance:
% 0.32
Market Cap:
$2.48 T
% 1.89
Fear & Greed:
72 / 100
$ 68.600
BTC Dominance:
% 54.1
Market Cap:
$2.48 T

Bitcoin May Still Have Time: Altcoins to Soar For This Reason!


According to an analysis by hedge fund QCP Capital, crypto bulls may still have time to grow their portfolios.

The cryptocurrency market made a good start to the week with Bitcoin approaching $67,000 the previous day. According to CoinGecko data, the total market value of the market increased by approximately 0.5% today to $2.57 trillion.

Everyone was curious about which direction cryptocurrencies would take after Bitcoin’s halving over the weekend. The 10x Research team warned that the market could lose strength for a few months after the halving.

QCP Capital analysts yesterday drew attention to the fact that Bitcoin’s price has historically started to rise rapidly within 50-100 days after halving.

“If the same thing happens again this time, it means BTC bulls still have a few weeks to increase their long positions,” the analysts said.

Analysts, who said that funding rates in the market have also entered negative territory for some altcoins, commented as follows:

“In the short term, we may see a short squeeze led by altcoins and meme coins where funding rates remain negative. The increase in speculative perception can carry on leveraged longs (positions).”

Rate this post
READ:  China's CBDC Struggles with Adoption Amid Privacy Concerns

Leave a Reply

Your email address will not be published. Required fields are marked *