In the past 24 hours, there have been significant fluctuations in cryptocurrency markets, with BTC dropping to $94,150. This decrease in BTC price has had even greater impacts on altcoins, such as SHIB, which have experienced drops of over 25%. What are the latest predictions from experts at QCP Capital regarding the markets?
Comments on Cryptocurrencies
The liquidation of more than $1.5 billion in long positions has affected funding rates for altcoins. Following Trump’s announcement of a crypto-friendly candidate for the SEC, there is little potential for significant developments in the near future, which weakens upward momentum.
The price of XRP Coin approached the $3 mark as Gensler’s resignation date became clear. However, recent pullbacks are considered normal as the expectation has been met. Upcoming events include the Federal Reserve’s interest rate decision on December 18 and tomorrow’s U.S. inflation data. The current expectation in the markets is a 25 basis point rate cut.
QCP Capital Market Analysis
Experts from the cryptocurrency investment firm recently assessed the current state of the markets. Their latest report discusses Microsoft’s upcoming Bitcoin vote. The upper management has requested a negative vote regarding the inclusion of BTC reserves, arguing that the evaluation of risky assets like BTC has already been considered, making the proposal unnecessary.
QCP analysts stated:
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Disclaimer: The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks, and should conduct their own research.
