QCP: Our structural view on BTC remains unchanged, expecting institutions to buy the dip
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QCP: Our structural view on BTC remains unchanged, expecting institutions to buy the dip
QCP posted an analysis stating, "Bitcoin's rebound momentum weakened after the Jackson Hole symposium, as an early holder sold approximately 24,000 bitcoins (around $2.7 billion) during Sunday's low liquidity period, triggering about $500 million in forced liquidations. Ethereum reached a new high, with the ETH/BTC ratio breaking above 0.04; amid six consecutive days of ETF outflows (approximately $1.2 billion), Bitcoin's market dominance declined to around 57%, while institutional investors continued accumulating Ethereum. In the short term, Bitcoin appears to be ceding momentum to Ethereum, but our structural outlook on Bitcoin remains unchanged. Just as the July market absorbed roughly 80,000 bitcoins of traditional supply, we expect institutions to selectively buy during pullbacks."
Navigating Web3 tides with focused insightsTechFlow news, August 25: QCP published an analysis stating, "Bitcoin's rebound momentum after the Jackson Hole symposium weakened as an early holder sold approximately 24,000 bitcoins (about $2.7 billion) during low Sunday liquidity, triggering around $500 million in forced liquidations.
Ethereum reached a new high, with the Ethereum/Bitcoin ratio breaking above 0.04; amid six consecutive days of ETF outflows (approximately $1.2 billion), Bitcoin's market dominance declined to about 57%, while institutional investors continued accumulating Ethereum.
In the short term, Bitcoin appears to be ceding momentum to Ethereum, but our structural outlook on Bitcoin remains unchanged. Just as the July market absorbed roughly 80,000 bitcoins of traditional supply, we expect institutions to selectively buy during pullbacks."
