Leading cryptocurrency Bitcoin While breaking record after record, today the level of $ 58,000 and then $ 59,000 was surpassed for the first time after December 21.
Investors and analysts in general are influenced by the spot Bitcoin ETF and the halving event. BTC While we expect the price to exceed its previous ATH of $69,000 in March. QCP Capital analysts claimed that this rally was not sustainable.
At this point, QCP Capital analysts pointed out the abundance of over-leveraged positions in Bitcoin and stated that these highly leveraged positions pose a risk for BTC in the coming days. He said that there may be a correction towards the $ 50,000 level.
Analysts warned investors about this correction, BTC He said there are two possible scenarios for
According to the first scenario, Bitcoin may experience a correction to $ 50,000, and according to the second scenario, BTC may continue its upward trend with strong ETF inflows and the upcoming halving effect.
“On the one hand, this rally may be limited due to speculative excitement, unsustainable funding rates, and in the near term it is possible that we will see a pullback in BTC to $50,000 levels due to overleveraged positions.
“On the other hand, the uptrend in Bitcoin may remain intact due to the continuation of strong spot ETF inflows and the upcoming halving effect.”
Analysts finally BitcoinHe pointed out that despite the expectation of a possible correction in BTC, the general outlook is positive.
*This is not investment advice.
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