The Main Catalyst for Bitcoin’s Upcoming Growth Has Been Named
According to experts, the leading cryptocurrency has stabilized after a massive liquidation of positions that occurred on September 22. On that day, the total amount of closed positions exceeded $1.7 billion.
“In this quarter, Bitcoin has traded in the $110,000–$120,000 range, with volatility remaining low while altcoins took center stage. After yesterday’s shake-up and with October approaching, attention is likely to shift back to the leading cryptocurrency,” specialists at QCP Capital explained.
Investors who bet on altcoin season, driven by surging activity in tokens like ASTER, HYPE, and PUMP, are now forced to reassess their positions. The altseason index plunged from 100 to 65 points, while Bitcoin dominance rose above 58%. Ether’s market share fell to 12%, which may indicate a return of capital to the more established major assets, QCP Capital experts believe.
Despite the short-term pullback, corporate investor support remains strong. Companies such as Strategy and Metaplanet continue buying Bitcoin, and inflows into spot Bitcoin ETFs over the past week signal demand for buying during the correction, analysts said.
Since the beginning of September, the price of the leading cryptocurrency has risen by more than 4%, even though this month is historically considered weak for the crypto market. Against expectations of a strong October, Bitcoin’s dynamics are increasingly tied to the macroeconomic situation in the U.S., QCP Capital representatives concluded.
Earlier, experts from Fidelity reported that major Bitcoin holders and investment funds could remove more than 6 million coins from circulation by the end of the year. This would deepen the scarcity of the cryptocurrency and help keep its price above $110,000.
See also: "Bitcoin: Price Holds Around $113K Amid Fed Rate Concerns"
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