A noticeable stagnation is evident in the crypto markets. Bitcoin is trading sideways in the $116,000-$120,000 range, while Ethereum is losing momentum around $3,800, according to the latest analysis from QCP Capital.
QCP: Signs of Crypto Market Fatigue, Eyes on US Data
Analysts say that the fact that prices have not increased significantly despite recent positive news indicates market fatigue.
QCP emphasizes that the third-quarter outlook will be particularly dependent on US inflation and employment data. While the market's sensitivity to macroeconomic developments has increased, investors are observed to be adopting a cautious stance.
In an environment where inflation expectations remain high, the steps taken by the US Federal Reserve (FED) will determine the direction of crypto assets.
QCP Capital stated that Bitcoin is holding at a strong support level, but upward momentum remains weak.
On the Ethereum side, buying pressure has weakened, leaving room for potential corrections. It's emphasized that fundamental data must be supportive for the market to regain momentum in the short term.
*This is not investment advice.
