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QCP Capital: Dollar Faces Rebound Risk, Potentially Triggering Pullback in Bitcoin and Other Risk Assets
BlockBeats News, July 16th, QCP Capital posted on its official channel stating that Bitcoin briefly pulled back after breaking through $120,000, finding support near $114,000. The US Dollar Index has fallen 10% this year, driving strong performance of USD-denominated assets, including US stocks, gold, and Bitcoin. There is now a risk of a USD rebound, and if the USD quickly rises, it may lead to a synchronous pullback of risk assets.
Furthermore, QCP maintains its structurally bullish view on BTC, believing that if it pulls back to $110,000, it will form a more solid support. ETH has also shown strong performance, boosted by continued corporate buying.
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