BTC Mount Gox Risk May Persist into October: QCP Capital

IconCryptoNewsTerminal Staff30 May, 2024

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BTC Mount Gox Risk May Persist into October: QCP Capital

QCP Capital, a Singapore-based crypto exchange, recently shared their analysis on the potential impact of the Mount Gox BTC sell-off on the market. In a Telegram post, they noted that while Bitcoin (BTC) has been defending the $67,100 level and the upside remains intact, the risk of further selling from Mount Gox could limit gains in the short term, potentially extending into October. The exchange also highlighted the potential for a rally in Ethereum (ETH) if a US spot ETF is approved. The spotlight continues to shine on meme coins, with traders flocking towards Shiba Inu (SHIB), Dogecoin (DOGE), and PepeCash (PEPE).

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