QCP Capital: BTC Will Still Continue to Hold Support at $60,000

Singapore-based crypto investment firm QCP Capital has reportedly posted that BTC continues to hold the $60,000 support level despite the U.S. government's transfer of 3,940 BTC to Coinbase Prime after receiving liquidation approval.

Here are some of the reasons why it believes the $60,000 support level will hold:

- The German government has slowed down the pace of sending BTC to exchanges, sending only 250 BTC yesterday, which could indicate that we are nearing the end of its current sell-off program.

- After 7 consecutive days of net outflows, the BTC spot ETF finally reported net inflows of $52.4 million over the past two days.