TechFlow news, July 30 — QCP Asia's latest report indicates that Bitcoin prices continue to fluctuate within the range of $116,000 to $120,000, while Ethereum has shown weakening momentum near the psychological level of $4,000. Despite continuous institutional inflows and improving regulatory conditions, markets have reacted indifferently to positive developments, displaying typical characteristics of a late-cycle phase.
The report highlights that the currently crowded trade of shorting the US dollar may pose risks. The dollar has already declined by 10% year-to-date, with excessive concentration in short positions against the Japanese yen, potentially triggering short-covering. This could lead to broad-based corrections across equities, emerging markets, and cryptocurrencies.
Key variables include upcoming US inflation and employment data, as well as the Federal Reserve's July monetary policy meeting. As the impact of the tariff war gradually emerges, Q3 may become a critical turning point.
