QCP: Discussions between US presidential candidates and senators on Bitcoin reserves may affect the crypto market landscape
2024-08-01 10:48
Odaily News QCP Capital said in its latest analysis that the main conclusion of yesterday's FOMC was that the Fed was clearly dovish: the impact of a potential rate cut in September has been fully digested by the market. However, the cryptocurrency market was not affected by the stock market rebound and experienced a broad sell-off overnight until this morning. The market remains nervous, and traders are closely watching the daily Ethereum spot ETF outflows and further supply pressures from Mt.Gox and the US government. In the long run, discussions between US presidential candidates and senators about sovereign Bitcoin reserves, and the possibility that other countries will follow suit, may fundamentally change the cryptocurrency landscape. "Shorting" of Bitcoin prices by the United States or sovereign countries could have a significant impact, potentially making accumulation on dips a strategic investment approach.
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