QCP: A short-term bottom may be forming, and the market expects to maintain range-bound fluctuations.

BTC-1,57%
ETH-1,03%

BlockBeats News, February 11 — QCP Capital released a market analysis on their official channel, stating that Bitcoin and Ethereum rebounded from last week’s lows, sparking market optimism, and a short-term bottom may be forming. QCP still expects BTC to remain in a range-bound oscillation as the market awaits new catalysts. Capital inflows are currently the main driving force.

Yesterday, spot BTC ETF saw a net inflow of $145 million, continuing Friday’s inflow of $371 million and ending previous consecutive outflows, indicating that institutional demand is re-emerging. Spot ETH ETF also shifted from three days of outflows to a net inflow of $57 million, while Tom Lee’s BitMine continues to accumulate, providing strong support for Ethereum.

On the macro level, conditions are showing marginal easing. Tensions between the US and Iran appeared to ease after negotiations last Friday, and weak employment data suggest the Fed may cut interest rates in March. The focus now shifts to non-farm payrolls and CPI reports, both of which could quickly reshape Fed expectations and risk appetite. The selling pressure from US-led spot sales has eased, but market sentiment remains fragile, with the fear and greed index still at extreme fear levels. The BTC/ETH ratio remains stable between 33 and 34, indicating limited rotation; although implied volatility has retreated from high levels, it remains elevated. In the upcoming week filled with macroeconomic data, actual volatility is expected to stay firm.

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