A trading firm, QCP Capital, has expressed concerns over a potential 'classic bull trap' in the crypto market as Bitcoin recently hit $82.7K. The firm highlighted that while Bitcoin and altcoins have seen a price rebound, exacerbating factors from the ongoing US-China trade war could drastically impact this growth. QCP cautioned that the apparent rally in cryptocurrency prices may be short-lived, especially if China retaliates against increased US tariffs. They noted that past trade developments have triggered significant market volatility, making further caution advisable. Meanwhile, some analysts suggest that a devaluation of the Chinese yuan could drive capital into Bitcoin as investors seek stable, borderless assets. Despite this potential influx, the overall outlook remains wary, with indications of market manipulations and a lack of long-term confidence in Bitcoin's price sustainability. Overall, analysts are divided, and caution is urged for those engaged in crypto trading during these uncertain economic times.

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