"Crypto Asset Market Stalls Amid Macroeconomic Headwinds… Weak Outlook for the Time Being"
YM Lee
Summary
- According to QCP, the crypto asset market is stalling due to macroeconomic conditions.
- The possibility of the U.S. Federal Reserve delaying rate cuts is affecting crypto asset prices.
- They warned of the possibility of Bitcoin continuing its weak trend, potentially falling to $90,000.
The cryptocurrency market is reportedly stalling due to macroeconomic conditions.
On the 9th (local time), crypto venture capital (VC) QCP stated in an investor memo, "Crypto prices are being suppressed by macroeconomic headwinds. The U.S. Federal Reserve (Fed) has indicated that it may delay the pace of rate cuts due to inflation risks, exacerbating the downward trend," it analyzed.
The outlook for Bitcoin prices was also pessimistic. QCP predicted, "Bitcoin prices are likely to remain weak, consolidating between $92,000 and $95,000. If it falls below $92,000, there is a possibility it could drop to $90,000."
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
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