Crypto trading company QCP Capital commented on the rises in the crypto market following the FED’s statements.
The Federal Reserve (FED), while keeping interest rates stable on March 20, FED President Powell’s positive statements also benefited the crypto market. Commenting on the recent rises, QCP Capital gave positive signals that the rise could continue.
Analysts stated that the rises following FED’s dovish attitude were mainly due to entries into the spot market, and that the lack of a significant increase in funding rates was interpreted as a very positive signal.
It was emphasized that this rise could be the first step that will take Bitcoin to a new all-time high, and that the downturns could be considered as buying opportunities:
Powell did not express concern about high inflation figures in January and February, and even drew attention to weakness in the labor market. The demand seems largely spot-focused, with very little change in funding rates. Will this lead to a rise to new all-time highs? Maybe it’s time to buy corrections to accumulate Bitcoin or Ethereum at a discount as we enter the next quarter.
