QCP Capital Anticipates a Tepid Crypto Summer Market

IconCryptoNewsTerminal Staff14 Jun, 2024

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QCP Capital Anticipates a Tepid Crypto Summer Market

Singapore-based crypto exchange QCP Capital predicts a "quiet summer" for the crypto market. Trading volume is expected to be low due to a lack of market catalysts. Bitcoin continues to struggle to recover after the FOMC despite the strong momentum in US equities. This is likely due to the miner capitulation post the halving. Ether (ETH), meanwhile, is seen as a good buy-and-hold for the rest of the summer in anticipation of a spot ETF approval. The spread is narrowing as the market awaits the approval of the S-1 filing.