QCP Capital experts noted that large investment funds have begun to switch to “bullish contracts” with execution in September 2024. Experts suggest that in the short term, the market may feel the ceiling of price recovery due to the liquidation of ether by the company Jump Trading.
QCP Capital noted the statements of the Deputy Governor of the Bank of Japan Shinichi Uchida, who announced that the new increase in the central bank rate is postponed due to the high volatility of the yen.
During the market crash on August 5, Bitcoin whale transactions reached their highest level since April, according to Santiment. Long-term Bitcoin investors have added 404,448 bitcoins ($23 billion) to their wallets over the past 30 days.
According to analysts at QCP Capital, the first cryptocurrency was able to restore the critical support level of $56,000 and there is a possibility that the value of the first cryptocurrency will increase to $60,000 in the near future.
Earlier, experts from the financial company JPMorgan stated that the high volatility of the cryptocurrency market did not scare off institutional investors.
Source: Bits
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