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Crypto trading firm QCP Capital shared a weekend evaluation of the cryptocurrency market.

In its April 6th share, QCP Capital addressed the current situation in the cryptocurrency market. Analysts acknowledged that the past week had been challenging for cryptocurrencies, emphasizing significant sales on the Bitcoin and Ethereum futures side.

In contrast, QCP indicated that they expect further rise, especially in Bitcoin in the coming days, and listed 5 different reasons.

The increased spot Bitcoin ETF entries were mentioned as the first of these reasons. Analysts noted that despite ongoing sales by Grayscale, last Thursday saw a spot Bitcoin ETF entry of $232 million, and also highlighted that the options markets increased the bullish expectations for Bitcoin.

In addition, BlackRock’s recent addition of 5 major financial actors as participants in the spot Bitcoin ETF was predicted to create a new hype in the market.

It was stated that the corrections coming 2 weeks before the Bitcoin halving largely reduced the bloating in funding rates, and all these factors were indicated to be a bullish signal for the coming weeks and days.

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