QCP Capital: ETF spot ETF is still a bullish signal for the market

On June 29th, QCP Capital stated in an official channel post that the range of $58,000 to $60,000 is a strong support level for Bitcoin in the second quarter of this year. However, the market must face overwhelming supply from the Mt. Gox unlock and government agency sell-offs. QCP Capital believes that these scary supply numbers may be exaggerated, and the market will consolidate within a certain range. Bitcoin may test the lower level of $50,000, but given the widespread relaxation of global regulations and the continued penetration of TradFi's interest, the market will find strong support there. The ETH spot ETF is still a bullish catalyst and is likely to start trading in early July. In addition, spot ETFs for other major currencies such as SOL will also trigger some excitement.