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QCP: Bitcoin may be approaching the end of this round of decline but confirmation is still needed
Summary: According to reports, QCP stated in its latest market update that Bitcoin has fallen 27% from its high, breaking below $100,000 for the first time and losing the 50-week moving average, causing market sentiment to turn bearish. The current focus is on the $92,000 support and the $88,000 CME gap, with the potential for a ...
According to reports, QCP stated in its latest market update that Bitcoin has fallen 27% from its high, breaking below $100,000 for the first time and losing the 50-week moving average, causing market sentiment to turn bearish. The current focus is on the $92,000 support and the $88,000 CME gap, with the potential for a short-term rebound determining the trend structure. QCP noted that this round of decline may have reached its final stage, but confirmation is still needed through support performance to determine if this is the 'last drop', otherwise the market may face further risk of resetting. It also mentioned that the US government's restart and delayed data releases will maintain high market volatility, with Bitcoin's implied volatility exceeding 50 and options skewing towards the bearish direction.
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Link: QCP: Bitcoin may be approaching the end of this round of decline but confirmation is still needed [Copy]
