Search
Crypto News
Analysis
QCP Capital Evaluates Bitcoin After Kamala Harris’ Statement of Support
QCP Capital Evaluates Bitcoin After Kamala Harris’ Statement of Support
Cryptocurrency analysis company QCP Capital evaluated the status of Bitcoin in its statement. Here are the details.
Author:
Utku Yanık
23.09.2024 – 13:03
Update:
28 mins ago
0
In a statement published by cryptocurrency analytics firm QCP Capital, the firm assessed the impact of US Vice President Kamala Harris’ recent statement of support for the cryptocurrency sector.
During a fundraiser over the weekend, Harris pledged to help grow the crypto industry in a move seen as an effort to appeal to the growing electorate in the digital asset space. That support is backed by high-profile crypto advocates like Anthony Scaramucci, who has been actively involved in shaping her campaign’s crypto policies.
Analysts at QCP Capital noted that Harris’ pro-crypto stance, combined with broader macroeconomic factors, has helped provide a much-needed boost to the cryptocurrency market. The firm reported that around $60 million in short liquidations were seen at the beginning of the week, pushing crypto prices even higher.
Last week, QCP Capital predicted a potential rally of up to 13.8% from Bitcoin’s (BTC) recent lows of $57,500. Since Monday, BTC has rallied by around 12% and appears poised for further gains, according to the analytics firm.
The firm also highlighted improvements in market dynamics. The report noted that the front-end put trend, which has been dominant over the past month, is beginning to normalize as traders begin buying upside options and selling downside options. In addition, funding rates on major exchanges have shown signs of improvement and base yields are becoming more attractive, especially in light of expected rate cuts.
QCP Capital remains optimistic that Harris’ evolving stance on crypto, combined with favorable economic conditions, could drive continued growth in the market.
*This is not investment advice.
To invest in more than 300 cryptocurrencies, you can register with Binance exchange with 20% COMMISSION DISCOUNT from this link!
Follow our
Telegram
and
Twitter
account now for exclusive news, analytics and on-chain data!
Buradaki Yorumlardan Bildirim Al
Bildir
Benim yorumuma yeni yanıt geldiğinde
Label
Name:
Mail
Δ
Label
Name:
Mail
Δ
0
Comments
Latest
The oldest
Top Rated
Inline Feedbacks
View all comments
