According to this report, Confusion May Increase in Bitcoin and Ethereum in the Near Future

  • QCP, which expects more volatility in the future, believes that the macro environment will become much more unpredictable in the coming weeks.
  • Despite the stock market lawsuits, the cryptocurrency market sensitivity continues to remain resilient against pressure.
  • The Consumer Price Index (CPI) data for June will be announced on June 13th, and the next step in interest rates will be determined with the Federal Reserve’s policy update.

As developments and SEC lawsuits in the US increase uncertainty in the market, we may be entering a week with high volatility.

Developments in the US Increase Uncertainty

bitcoin-abd

QCP Capital states that the events following the SEC lawsuits against Binance and Coinbase exchanges have not yet fully settled.

Expecting more volatility in the future, QCP believes that the macro environment will become much more unpredictable in the coming weeks. However, QCP argues that the SEC and Chairman Gary Gensler’s fight against cryptocurrencies will not cause a mass price drop, contrary to some fears.

QCP stated, “Gensler and the SEC allies have continued the ‘security’ threat to the sector. But as we have previously stated, BTC or ETH will continue to see the SEC as a weak competitor – especially since it is clear that the ‘security’ definition will not apply to either of them.” and added;

“As the exaggerated complaints presented by the SEC increase, it becomes clear that they are only aimed at creating sensational headlines. Ultimately, Gensler has proven to be the most capitalist of previous regulators.”

The issue that QCP warns about is that if the US Department of Justice or other institutions become involved, the situation could become more serious;

“We expect the Biden administration to continue to mudsling cryptocurrencies and even increase these activities during next year’s election season.”

It is observed that the cryptocurrency market sensitivity continues to remain resilient against pressure after the stock market lawsuits, and the Crypto Fear and Greed Index remains in the “neutral” zone at 50/100.

Bitcoin Enters a Volatile Week

Beyond the SEC, next week’s macro data reports can also present their own triggers. The Consumer Price Index (CPI) data for June will be announced on June 13th, and the next step in interest rates will be determined with the Federal Reserve’s policy update.

QCP said, “As we enter next week, a volatile macro week awaits us, such as the US CPI, June FOMC, and other major central bank meetings.”

This analysis also draws attention to changes in the Treasury General Account. These changes can potentially be an obstacle for risky assets by reducing liquidity in the monetary system. This theory is also considered by other well-known crypto figures, including former BitMEX CEO Arthur Hayes. Hayes has been following this since the beginning of 2023.

QCP’s optimistic outlook emerges as BTC/USD continues to hover near certain price support levels, especially the 200-week EMA should be considered.

At the time of writing, Bitcoin is trading at $26,500.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Price Surge Predicted: Analyst Sees BTC Hitting $650,000 Fueled by ETFs

Get the latest insights on Bitcoin's potential trajectory – could the dominant cryptocurrency surpass gold's market cap and reach new heights?

Bitcoin Halving to Spark Supply Shock, Says Samson Mow – Omega Time Ahead?

Influential Bitcoin advocate Samson Mow offers a bullish outlook on Bitcoin's future, citing the upcoming halving and growing ETF inflows as key drivers. Here's why he believes the current market turbulence could lead to a surge in BTC price.

Bitcoin Price Plunge Continues: Analysts Predict Further Drops to $59K

Bitcoin's rollercoaster ride continues, with experts weighing in on where the bottom might lie. Get the latest price analysis, predictions, and insights into what these movements could mean for your crypto portfolio.

Bitcoin and Altcoins Face Correction Risk as Rate Cut Expectations Decline

Discover why Bitcoin and other cryptocurrencies may be on shaky ground, as economic indicators point to a potential market correction. Get expert insights on shifting market dynamics and what it could mean for crypto investors.

Bitcoin Price Outlook Dims as Crypto Stocks Slump, Peter Schiff Raises Doubts

Get the latest insights on the bearish trend in crypto markets, Peter Schiff's skepticism, and the impact on Bitcoin's price potential.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Will WLD See $11 Again? Current WLD Analysis

WLD coin's daily technical analysis provides direction for long-term traders by indicating support and resistance levels.

Where Will NEO’s Rally Continue? Updated NEO Analysis 15 April

NEO gained strength from the support levels determined in the previous analysis and rose to its current price of $22.66, targeting $25.

Is DYDX Ready to Start a New Rally? Latest DYDX Analysis 15 April

Following its recent fall, DYDX rebounded strongly to $2.28, and it is indicated that if it can sustain 3-day candle closes above this resistance level, the upward trend may continue.

Is Solana in a Long-Term Buy Zone? Current SOL Analysis 15 April

Following its recent decline to $118, Solana surged back to $145 with robust purchases; for long-term investors, the $132.40 to $121.36 range is seen as potential buying areas.

Will ARB Start Its Ascent? Latest ARB Analysis 15 April!

According to the analysis of ARB coin, staying above $0.98 could set it on a path to reach $1.90.
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Bitcoin Price Surge Predicted: Analyst Sees BTC Hitting $650,000 Fueled by ETFs

Get the latest insights on Bitcoin's potential trajectory – could the dominant cryptocurrency surpass gold's market cap and reach new heights?

Bitcoin Halving to Spark Supply Shock, Says Samson Mow – Omega Time Ahead?

Influential Bitcoin advocate Samson Mow offers a bullish outlook on Bitcoin's future, citing the upcoming halving and growing ETF inflows as key drivers. Here's why he believes the current market turbulence could lead to a surge in BTC price.

Bitcoin Price Plunge Continues: Analysts Predict Further Drops to $59K

Bitcoin's rollercoaster ride continues, with experts weighing in on where the bottom might lie. Get the latest price analysis, predictions, and insights into what these movements could mean for your crypto portfolio.