TechFlow, July 16 — QCP Capital posted an analysis stating that after briefly breaking above the $120,000 mark, Bitcoin has pulled back and found support around $114,000. As summer approaches, trading volumes in the cryptocurrency market are showing a seasonal slowdown trend.
The US Dollar Index has declined 10% year-to-date, driving strong performance in dollar-denominated assets, including Bitcoin. Notably, Ethereum has shown relative strength, benefiting from SBET's treasury diversification efforts and increased Ethereum accumulation by other corporations.
Analysts believe that Bitcoin’s pullback to $110,000 could provide a more stable consolidation base for the current rebound, with the market overall maintaining a structurally bullish stance.
