QCP: Bitcoin may face selling pressure due to Mt. Gox distribution and DMM attack, while Ethereum is bullish
QCP Capital pointed out in its latest market analysis report:
1. Bearish on Bitcoin: potential supply from Mt. Gox distribution (about US$9.6 billion) and selling pressure from DMM being attacked by hackers (about US$305 million);
2. Bullish on Ethereum: Ethereum spot ETF may start trading earlier than expected in June, and the US SEC urges applicants to submit S-1 forms before May 31.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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JPMorgan believes that the current rebound in U.S. Treasury bonds was triggered by the spillover of the European debt crisis and the sharp plunge in the Nasdaq, rather than an improvement in U.S. fundamentals. Despite ongoing chatter about "de-dollarization," foreign demand for long-term U.S. Treasuries has actually reached historic highs. The 10-year yield has entered the key resistance range of 4.94%-5.02%, but tech stocks have become the dominant variable influencing treasury yields. Until there are clear signs of stabilization or even bottoming in the risk asset markets, it is not recommended to go against the trend and short the current rebound.
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