Bitcoin Eyes $67K After Halving as Altcoins Primed for Short Squeeze, Hedge Fund Says
Crypto-focused stocks also bounced higher, led by bitcoin miners Riot Platforms and Hut 8.
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QCP Capital
Crypto-focused stocks also bounced higher, led by bitcoin miners Riot Platforms and Hut 8.
Both companies plan to develop new institutional digital offerings, while QCP is set to open an Abu Dhabi shop.
Bitcoin could enter a period of consolidation before its next leg in the rally, observers noted.
Bitcoin’s sharp rebound from Tuesday’s plunge indicates a start of a new rally targeting $76,000, Swissblock said.
In a recent note, the Singapore-based investment fund said expects topside resistance for bitcoin in the $45k-$48.5K region.
BTC slid to $26,500 as interest rates and the U.S. dollar surged while equities declined.