Bitcoin Eyes $110,000 Support Amid US Dollar Rebound Risk, Says QCP Capital
2025-07-16 10:18:55
Main Idea
Bitcoin's price retraced after surpassing $120,000, stabilizing near $114,000, with potential support at $110,000 amid US dollar rebound risks, while Ethereum shows institutional accumulation and positive sentiment.
Key Points
1. Bitcoin briefly retraced after exceeding $120,000, stabilizing around $114,000.
2. The US dollar index has depreciated by about 10% year-to-date, increasing the appeal of dollar-denominated assets.
3. A potential US dollar rebound could pressure Bitcoin, with $110,000 seen as a key support level for future gains.
4. Ethereum (ETH) is experiencing institutional accumulation and positive market sentiment.
Description
QCP Capital reported on July 16 that Bitcoin experienced a brief retracement after surpassing the $120,000 mark, stabilizing near $114,000. This movement reflects a critical support level amid heightened market
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