Bitcoin’s Rally Isn’t Over – But a Drop to $110K Could Be Just What It Needs
2025-07-17 06:56:15
Main Idea
Bitcoin's rally paused after reaching $120,000, with QCP Capital suggesting a pullback to $110,000 could stabilize the market, while Ethereum shows strength despite seasonal slowdowns.
Key Points
1. Bitcoin's rally paused after breaching $120,000, finding support at $116,000.
2. QCP Capital believes a pullback to $110,000 may provide a more stable foundation for consolidation.
3. Trading activity is slowing due to summer holidays and US inflation remaining at 2.5%, creating policy uncertainty.
4. Ethereum has surged over 33% in the past month, trading above $3,400, defying seasonal trends.
5. QCP remains structurally bullish on Bitcoin despite potential short-term retracements.
Description
Bitcoin’s rally took a brief pause after breaching the $120,000 mark. What followed were profit-taking flows that capped the momentum built over the past week. The asset eventually found a local bottom at $116,000, where bids re-emerged to support the price. However, QCP Capital believes that another pullback toward $110,000 may provide a more stable foundation for the current rally to consolidate. Bitcoin Needs a Breather In its market update, QCP Capital noted that the latest market correction...
Latest News
- Coinbase’s Base App Hits the Scene, Combining Crypto and Social Media2025-07-17 20:10:03
- Curve DAO Explodes 70% in a Week—What’s Fueling CRV’s Run?2025-07-17 19:12:10
- XRP Price Surges Beyond $3.3, Leaves Over $40 Million in Liquidations2025-07-17 18:15:35
- Bank of America Enters the Stablecoin Race — CEO Makes It Official2025-07-17 18:11:32
- US ‘Crypto Week’ Becomes Crypto Chaos as Lawmakers Battle Over CBDC2025-07-17 16:48:10