BTC, which found a buyer at $ 79 thousand, exceeded $ 80 thousand hours ago and then retreated. We still have an unresolved Iran issue. In addition, tariff tension increased again with the additional taxes introduced to the EU last week. So, what are QCP analysts’ current predictions for the markets?
What happened with cryptocurrencies?
Stocks rose on strong earnings reports from trillion-dollar giants, and Bitcoin belatedly benefited. The king, who climbed to levels above 80 thousand dollars that he has not seen since the end of January cryptocurrency The unit was withdrawn.
“This move appears to be in line with equities and reinforces a broader trend with BTC’s correlation with US equities climbing towards 2023 levels, indicating a general reconnection with risk assets.” – QCP
While Strategy took a break from purchases in the last week, this rise increased hopes for the potential of the current support base. Spot ETF flows also remain supportive; There was a net inflow of approximately 163 million dollars last week.
“While there were significant outflows from April 27-29, likely related to month-end rebalancing and some basis trade adjustments, Friday’s inflow of approximately $630 million more than offset these previous outflows.
Overall, ETF flows and Strategy’s Accumulations remain supportive, but their recent rally suggests they are no longer the sole driver of price action. “The question now is whether broader corporate involvement begins to emerge as a more enduring force.” – QCP Capital
What’s next for cryptocurrencies?
Amid increasing global uncertainty of Bitcoin In order to stabilize, it needs to gain CME GAP between 82-83 thousand dollars. At least, QCP analysts argue that this will be the first big flare. Although investors were surprised by the price lingering around $80,000 after long-running long liquidations, analysts said it was too early to rejoice.
Broad markets are now taking US-Iran tensions less seriously (VIX still consolidating around 17) due to AI support and conflicting statements. However, we see that important announcements still have consequences on the charts.
Also this week JOLTSas well as important employment data such as ADP and NFP StrategyEarnings reports of crypto giants such as , Coinbase and Block will also be announced. The surprises we see here in the short term may feed volatility. In summary, the picture is more moderate for stock markets, but the charts in crypto are still open to surprises.
