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QCP Capital: ETF spot ETF is still a bullish signal for the market
On June 29th, QCP Capital posted on its official channel that the range of $58,000 to $60,000 is a strong support level for Bitcoin in the second quarter of this year. However, this time, the market must deal with the overwhelming supply brought by the Mt. Gox unlock and the government's sell-off. QCP Capital believes that these frightening supply figures may be exaggerated and the market will consolidate sideways within a certain range. Bitcoin may test the lower level of $50,000, but given the widespread relaxation of global regulations and the continued penetration of TradFi interest, the market will find strong support there. ETH spot ETF remains a bullish catalyst. It is likely to start trading in early July. In addition, spot ETFs for other major currencies such as SOL will also trigger some excitement.