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QCP Capital: Bitcoins pullback to $110,000 may provide a more stable basis for growth
Odaily News QCP Capital published an analysis saying that Bitcoin experienced a brief correction after breaking through the $120,000 mark and currently found support at $114,000. As summer approaches, cryptocurrency market trading volume shows a seasonal slowdown trend. The U.S. dollar index has fallen 10% year-to-date, driving the strong performance of dollar-denominated assets, including Bitcoin. It is worth noting that Ethereum has shown relative strength, benefiting from SBETs treasury diversification efforts and other companies increased Ethereum accumulation. Analysts believe that Bitcoins pullback to $110,000 may provide a more stable consolidation basis for the current rebound, and the market as a whole remains structurally bullish.
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