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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-correction-warning-by-qcp-capital/" data-wpel-link="internal">Ethereum Price Correction Warning by QCP Capital</a> 
Singapore-based crypto trading firm QCP Capital has issued a warning about a potential price correction for the leading <a href="https://coin-turk.com/messari-raporuna-gore-yuzde-1986-buyudu-dev-altcoin-icin-dikkat-ceken-rakamlar" data-wpel-link="internal">altcoin</a> <a href="https://en.coin-turk.com/ethereums-milestone-a-reflection-of-vitalik-buterins-vision-and-supply-policy-evolution/" data-wpel-link="internal">Ethereum</a> (<a href="https://en.coin-turk.com/record-breaking-interest-in-cme-groups-ethereum-options-what-does-this-mean-for-the-cryptocurrency/" data-wpel-link="internal">ETH</a>), despite its recent surge above $4,000. The company noted a change in market sentiment, pointing to increased skepticism about the near-term approval of a spot Ethereum ETF. Despite these concerns, QCP Capital maintains cautious optimism about ETH’s long-term potential, highlighting the possibility of price increases due to current market dynamics and network upgrades. 
<h2 style="text-align: justify" id="strong-qcp-capital-analysts-issue-potential-correction-warning-strong">QCP Capital Analysts Issue Potential Correction Warning</h2> 
In its latest assessment published on its Telegram channel, QCP Capital warned that the price of ETH could face a potential correction. Although the largest altcoin recently reached its highest price level in two years, the firm highlighted a shift in market sentiment characterized by negative risk reversals. According to QCP Capital analysts, this shift is likely due to the reduced likelihood of a spot Ethereum ETF being approved in the near future. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-326849" src="https://coin-turk.com/wp-content/uploads/2024/03/Ethereum-ETH-Altcoin-1.jpeg" alt="" width="1280" height="720"> 
Historically, significant network upgrades such as <a href="https://en.coin-turk.com/crypto-markets-turn-green-as-bitcoin-rises-and-altcoins-recover-key-areas/" data-wpel-link="internal">Bitcoin</a>‘s Taproot update and Ethereum’s The Merge have had minimal impact on pricing during bearish and sideways market conditions. However, QCP analysts note that current market dynamics could lead to price increases for Ethereum and Layer 2 solutions, potentially influenced by the already priced-in <a href="https://coin-turk.com/ethereum-dencun-guncellemesi-nedir-ne-zaman-gelecek-guncellemenin-tum-ozellikleri" data-wpel-link="internal">Dencun update</a> or positive capital inflows into the Layer 2 ecosystems. 
Despite the anticipated potential correction, QCP Capital analysts continue to be positive about ETH in the long term. Market data shows that traders are preparing for short-term weakness, with increased demand for ETH put options, which is reflected in negative one-month and 60-day put-call ratios. 
<h2 style="text-align: justify" id="strong-analysts-also-warn-about-excessive-leverage-strong">Analysts Also Warn About Excessive Leverage</h2> 
On the other hand, QCP Capital analysts also referenced potential risks associated with excessive leverage, expressing concerns about the current amount of leverage in the market. 
As is known, excessive leverage has been linked to significant market crashes in the past, including the major May 2021 collapse and a 10% correction in Bitcoin‘s (<a href="https://coin-turk.com/simdi-hareket-zamani-fed-sonrasi-bitcoin-kac-dolar-olacak" data-wpel-link="internal">BTC</a>) price in January, so traders should be on alert for a potential price correction that could affect ETH and the broader market. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-correction-warning-by-qcp-capital/" data-wpel-link="internal">Ethereum Price Correction Warning by QCP Capital</a></h5>

Ethereum Price Correction Warning by QCP Capital

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