QCP: BTC pullback due to weakening Asian macroeconomics and panic triggered by Strategy comments.
QCP Capital analysis states that Bitcoin plunged from $91,000 to $86,000 mainly due to two reasons: the surge in Bank of Japan rate hike expectations and the weakening of China's non-manufacturing PMI dragging down Asian macro sentiment; the Strategy CEO mentioned the possibility of selling BTC when the stock price is below NAV and financing dries up, amplifying market panic. Although QT has ended, the probability of a rate cut in December has risen to 87%, and ETFs have seen renewed net inflows, the BTC correction after a previous 15% rebound is normal, with the key being whether it can hold the previous low.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ANAPTYSBIO, INC. : LEERINK PARTNERS CUTS TARGET PRICE TO $81 FROM $90

ACADIA HEALTHCARE COMPANY, INC. : LEERINK PARTNERS RAISES TARGET PRICE TO $33 FROM $30

IHH Healthcare Raised to Outperform From Mkt Perform by Kenanga IB >5225.KU

Oil Price Today (September 23): Crude oil below $100 on hopes of US-Iran talks. What did Trump say?
