Bitcoin Rally is at the Crossroads! What Are the Positive and Negative Signs for BTC? QCP Capital Analysts Announced!

Leading cryptocurrency Bitcoin While it will increase by 65% ​​in 2024, investors and analysts are generally bullish.

However Analysts at QCP Capital said Bitcoin’s rally is at risk of exhaustion. At this point, analysts warned investors that the rise in BTC may cause problems in the next quarter and may have difficulty maintaining the upward trend.

Although QCP Capital analysts warned about Bitcoin, they stated that the outlook for the second quarter remains quite bullish and listed the bullish catalysts:

“There are enough catalysts to create a very bullish outlook for Bitcoin in the second quarter:

1. Continued BTC spot ETF demand
2. BTC halving
3. Cryptocurrency ETNs of the London Stock Exchange
4. Potential ETH spot ETF approval.

“Along with the bullish catalysts for the Bitcoin price, there are also signs of the bullish exhaustion as price growth increased exponentially in the first quarter.”

Analysts watch top altcoins as signs of exhaustion of rally in Ethereum (ETH) ETF It showed declining approval sentiment and persistently high funding rates in stock markets.

*This is not investment advice.