QCP Analysts Expect BTC Rate to Grow Despite ETH Price Fall

Researchers from QCP Asia have published a report on the current situation in cryptocurrency markets, pointing out several important factors. The experts recalled that the Deputy Governor of the Bank of Japan (BOJ) stated that there is a low probability of raising interest rates, and this allowed the quotes of leading digital assets to recover for a while. The experts emphasized that Ethereum (ETH) continues to lag behind other cryptocurrencies. Experts believe in the prospects for growth of the Bitcoin (BTC) rate

According to analysts, the market is showing signs of “possible capping of ETH price growth in the near term.” This is allegedly due to ongoing liquidations by Jump Trading, which has about 21,394 wstETH left, worth approximately 63.6 million.

Additionally, 25,757 ETH worth around 63.1 million have been moved from wallets linked to the Plus Token scam over the past 30 hours. Analysts have said that these factors could put pressure on the market and limit the upside potential of Ether.

Despite this, QCP staff remain bullish on the outlook for Bitcoin (BTC), noting large purchases of December and March call options. Major funds also continue to roll over long positions to fall 1st month calls, indicating confidence in the long-term rally of the flagship digital coin.

According to analysts, entering the market while Bitcoin continues to recover in the summer months may be a good idea. Thus, the current situation in the digital segment remains unstable, but researchers see potential for further growth of BTC despite the pressure on ETH. Analysts advise investors to exercise caution considering the possibility of obtaining income even in conditions of high volatility.