QCP Capital: Bitcoin's strong support level is 60k amid market volatility

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QCP Capital said that price action could fluctuate here as the market digests the fundamentals of several macro events that took place this week, including the US PPI on Tuesday, Powell's speech, CPI and retail data on Wednesday, and unemployment benefit application data on Thursday. Given the strong rebound from last week's lows, 60k seems to remain a strong support level unless there are any hawkish surprises. Although the spot market continues to consolidate while the market receives more clear information from the Fed, Bitcoin remains structurally bullish.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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