QCP Capital Questions Bitcoin’s $80,000 Support Amid Economic Concerns

The $80,000 support level for Bitcoin is fragile due to macroeconomic weaknesses and will not serve as the bottom in this correction, according to a report by QCP Capital.

Asia Colour — 19 Mar 25

1/ It’s been a month since the S&P 500 hit a new high, but the mood has soured. Market exuberance is gone, and risk assets remain under pressure. How much longer can this last?

— QCP (@QCPgroup) March 19, 2025

The skepticism of experts is driven by increased geopolitical pressure from the US on its trading partners.

The greatest risk is the imposition of retaliatory tariffs by President Donald Trump on April 2, which could negatively impact risk assets.

Experts do not anticipate changes at the upcoming March 19 meeting of the Fed, but will monitor for “dovish shifts.” The monetary regulator is likely to pause to assess the impact of trade wars on inflation, they explained.

Under current conditions, QCP Capital prefers gold and recommends focusing on yield strategies with principal protection to avoid a prolonged downturn.

The correction, which has persisted on Wall Street for a month following a record high, has led to the disappearance of euphoria and raised the question: “How long will this pain last?”

Earlier, CryptoQuant CEO Ki Young Ju suggested a prolonged consolidation of Bitcoin within a broad range (e.g., $75,000-100,000), similar to what was observed in 2024 before prices returned to an upward trajectory.

In April, Matrixport predicted the end of the correction for the leading cryptocurrency in March-April. Glassnode suggested that the asset’s redistribution phase could be prolonged.