Analysts Warned! “This Data Points to a Short-Term Correction Risk for Bitcoin!”

Bitcoin and USA in altcoins CPI and PPI While waiting for data QCP Capital Analysts announced their short-term expectations.

Stating that there has been an increase in continuous futures funding rates in Deribit and Binnace, analysts said that this increase indicates that the cryptocurrency market may be vulnerable to an unexpected downward movement.

“The perpetual futures funding rate on Deribit and Binance has increased in the past two weeks, which is a sign that bearish bets are decreasing or long-term investments are increasing.

This increase, combined with the rise in memecoins, increases the risk of a correction and makes us cautious about downside moves, as it occurs when markets are up and least expected.”

Analysts stated that although they see a risk of correction in the short term, they expect an increase in the medium and long term. “We aim to continue accumulating despite short-term declines as we believe the risk-off sell-off and correction will be short-lived.” he said.

While QCP Capital analysts see a risk of correction in Bitcoin in the short term, BRN analyst Valentin Fournier stated that inflation data is important, “If inflation shows signs of decreasing as expected, Bitcoin could see an upward move once again.” he said.

*This is not investment advice.