QCP Group: "PCE Indicator, Key Catalyst to Transform Fear into Hope"
Nansen: "Market Already Prepared for Increase Following Trump's Comments"
Major cryptocurrency analysis firms predicted that the US Personal Consumption Expenditures (PCE) will trigger a Bitcoin (BTC) rally resumption.
Singapore-based cryptocurrency analysis firm QCP Group, in a report released on the 26th, pointed to market anxiety relief from Trump's tariff war easing comments, the PCE indicator, and high open interest in futures markets.
QCP Group explained, "Trump's comments to major trading partners have eased market anxiety, and about $100,000 in open interest is bet in the cryptocurrency futures market" and "the PCE indicator announcement will be the catalyst that can trigger a rally."
The interpretation is that the fear mitigated by Trump's comments will turn into hope with the PCE announcement, and the open interest bet in the futures market will be the "bullet" to create an upward market.
On-chain analysis platform Nansen shared the same opinion.
Nikolai Zondergaard, a Nansen researcher, stated, "The US PCE indicator is expected to alleviate inflation concerns and promote Bitcoin's historic upward trend since April" and "Bitcoin has been sensitive to Trump's comments, and Monday's comments have already created a starting point that could trigger Bitcoin's increase."
According to on-chain analysis platform CoinGlass, Bitcoin's average increase in April was approximately 12.9%.
Kwon Seung-won, Reporter ksw@blockstreet.co.kr
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