Cryptocurrency trading firm QCP Capital made a statement following the recent declines in the cryptocurrency market.
QCP Capital, which shared a report earlier today, felt the need to share a second note as the negative atmosphere in the market continued.
In this note shared recently, the events expected to occur over the weekend Volatility came earlier than expected Possible reasons were included in the statement.
Spot Bitcoin ETF entry data presented last night $32.7 million falling to the level expected it was too low Analysts emphasize that if demand does not return, declines It can continue until May hinted.
In addition, during the rise option It was stated that corporate whales, who continued their purchases aggressively, also started to withdraw their hands. Analysts say Bitcoin under $65k and Ethereum under $3k He said that if he stays, alarm bells will ring:
BTC spot ETF inflows were weak at a net $132.7 million. This means a very sharp drop in demand. The downside risk reversals reported this morning deepened and spread into May; The market is especially nervous about BTC being below 65k and ETH being below 3k. We also saw significant unwinding of calls from institutional players who were aggressively buying options on the rise.