Crypto trading firm QCP Capital shared its comments on the overall outlook of the crypto market.
QCP Capital evaluated the current situation of the crypto market on March 20. Analysts pointed out that inflation has been relentless in the money markets, which has started to dampen appetite for risk assets, but they still spoke optimistically about the future of Bitcoin and the crypto market.
In addition, it was noted that spot Bitcoin ETFs witnessed a peak entry last week, which pushed the price of Bitcoin to an all-time high. It was also pointed out that the weakening of spot Bitcoin ETF markets could be dangerous.
Analysts discussed the possibility that a $326.2 million net daily outflow recently could be the beginning of a major cash outflow wave, emphasizing that in such a scenario, a deep correction could occur.
Despite everything, QCP Capital, which advocates that the bull market is not over, expressed that Bitcoin will reach new highs in the near future following its halving. It was indicated that these drops are just about accumulating liquidity for further increases.
