According to a report from QCP Capital, cryptocurrency markets are exhibiting caution as investors hedge against potential downside risks. Concerns are growing due to a combination of factors, such as the upcoming Federal Open Market Committee minutes and Personal Consumption Expenditures data. The lack of an immediate bullish catalyst has impeded Bitcoin's progress towards the $100,000 milestone. The increase in implied volatility for ETH implies that investors are focusing on downside protection rather than speculative price bets. QCP believes that while long-term sentiment for crypto remains positive, uncertainty surrounding macroeconomic conditions is causing a pause in the market. Without a significant driver in the short term, Bitcoin's path to new highs may be challenging during this calmer period.



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