📊 Analysis company lists short-term expectations for Bitcoin price!
The upward momentum that recently pushed Bitcoin past $76,000 has weakened. After a rapid rise, Bitcoin has pulled back to the $72,000 level, with Singapore-based analysis firm QCP Capital releasing the latest analysis. QCP Capital states that Bitcoin is trading in a narrow range between $73,000 and $74,000, affected by macroeconomic and geopolitical uncertainties, particularly the US-Iran conflict. At this time, QCP Capital believes that Bitcoin lacks the upward momentum to break through local highs following the recent rally. On-chain capital flows indicate buying pressure at the lower end of the range, but spot trading volume remains relatively low. Analysts point out that while Bitcoin and the cryptocurrency market are under pressure due to this data, losses are relatively limited compared to declines in other macro-sensitive risk assets. On the other hand, the options market maintains a stable but defensive stance. Analysts note that the 30-day implied volatility (IV) is maintained at around 50% (higher than realized volatility), supporting options sellers. From a macroeconomic perspective, this week has proven to be extremely important for central banks. The Federal Reserve announced its decision today in March, followed by Thursday's decisions from the European Central Bank (ECB), Bank of Japan (BOJ), and Bank of England (BOE). With interest rate decisions approaching, oil prices approaching $100 per barrel have significantly reduced market expectations for Fed policy easing, complicating the rate cut issue. Analysts point out that this means the same thing for cryptocurrency: the interest rate environment becomes less supportive rather than more supportive. In the current environment, Bitcoin is viewed not only as a high-beta risk asset but also has not yet been recognized as a stable safe-haven asset.
📊 Analysis company lists short-term expectations for Bitcoin price!
The upward momentum that recently pushed Bitcoin past $76,000 has weakened.
After a rapid rise, Bitcoin has pulled back to the $72,000 level, with Singapore-based analysis firm QCP Capital releasing the latest analysis.
QCP Capital states that Bitcoin is trading in a narrow range between $73,000 and $74,000, affected by macroeconomic and geopolitical uncertainties, particularly the US-Iran conflict.
At this time, QCP Capital believes that Bitcoin lacks the upward momentum to break through local highs following the recent rally.
On-chain capital flows indicate buying pressure at the lower end of the range, but spot trading volume remains relatively low.
Analysts point out that while Bitcoin and the cryptocurrency market are under pressure due to this data, losses are relatively limited compared to declines in other macro-sensitive risk assets.
On the other hand, the options market maintains a stable but defensive stance.
Analysts note that the 30-day implied volatility (IV) is maintained at around 50% (higher than realized volatility), supporting options sellers.
From a macroeconomic perspective, this week has proven to be extremely important for central banks.
The Federal Reserve announced its decision today in March, followed by Thursday's decisions from the European Central Bank (ECB), Bank of Japan (BOJ), and Bank of England (BOE).
With interest rate decisions approaching, oil prices approaching $100 per barrel have significantly reduced market expectations for Fed policy easing, complicating the rate cut issue.
Analysts point out that this means the same thing for cryptocurrency: the interest rate environment becomes less supportive rather than more supportive.
In the current environment, Bitcoin is viewed not only as a high-beta risk asset but also has not yet been recognized as a stable safe-haven asset.