QCP: Recent trends will depend on factors such as whether institutional funds flow back in and the easing of geopolitical risks.
BlockBeats News, February 2, QCP released a briefing stating that bitcoin fell below the key support level of $80,000 on Saturday, hitting a low of $74,500, while ethereum also dropped below $2,170. This round of decline coincided with Kevin Warsh being confirmed as the next chairman of the Federal Reserve, which heightened market expectations for policy tightening. According to reports, more than $2.5 billion in leveraged long positions were liquidated, intensifying downward price pressure.
Bitcoin is currently seeking stability near $74,500, a level consistent with the cycle low for 2025. The options market continues to show cautious sentiment, but the intensity of downside hedging is lower than during previous periods of market stress. Analysts point out that the near-term trend will depend on whether institutional funds flow back in, easing geopolitical risks, and Warsh's policy statements. This marks the fourth consecutive month of decline for bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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