Summary
- QCP Capital reported that despite Bitcoin (BTC)'s decline, institutional buying at lower prices is expected to resume.
- According to the report, it was noted that net outflows from Spot Exchange-Traded Funds (ETFs) and reduced strategic buying made it difficult for the upward trend to continue.
- QCP highlighted that institutions absorbed 80,000 BTC in the market in July and projected a resurgence of institutional buying.
Despite the decline in Bitcoin (BTC), opinions suggest that institutions are likely to resume buying at lower prices.
On the 25th (local time), QCP Capital stated in a report, "After the rebound following the Jackson Hole Meeting, Bitcoin plunged due to the sale of about 24,000 BTC by early holders," adding, "It was difficult for the upward trend to continue because of net outflows from Spot Exchange-Traded Funds (ETFs) and decreased strategic buying." Nevertheless, it was predicted that institutional Bitcoin purchases would resume. QCP said, "Our long-term outlook for Bitcoin remains unchanged," and added, "In July, the market absorbed 80,000 BTC." They further stated, "Institutions will start buying at lower prices again."
Son Min
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