QCP Capital: The market is watching whether Powell’s speech will break the current range of 112,000 USD to 120,000 USD

Recently, BTC’s price decreased from 118,000 USD to 115,000 USD, while ETH fell from 4,500 USD to 4,300 USD.

Over 400 million USD in long positions were liquidated amid a 5% correction trend, with last week’s DeFi liquidations exceeding 1 billion USD.

Institutional demand remains strong, highlighted by Metaplanet’s addition of 775 BTC, even as funding rates turn negative and market caution grows.

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