QCP Capital: The market is in a panic, but we continue to be bullish in the medium term

QCP Capital released a market analysis saying that although Bitcoin fell to $54,000 in the previous two weeks, altcoins fell 30%, and the market fell into panic, we continue to maintain a medium-term bullish view for the following reasons: Powell mentioned in recent communications and interviews that great progress has been made in curbing inflation, and the market now believes that the possibility of a rate cut in September is 100%; The German government's Bitcoin sell-off has ended, and Mt.Gox's BTC repayment will not cause much volatility; ETH spot ETF will start trading on July 23; Trump chose J.D Vance as vice president. If he is elected, Vance may lobby for good regulations for encryption. Previously, QCP Capital released a market analysis saying: Maintain a medium-term bullish view, and the encryption market is ready for a rebound.