QCP Capital: US CPI data boosts the risk asset market, BTC may return to $74,000
QCP Capital issued a statement stating that the U.S. CPI data triggered risk assets to break through the range, and the BTC price rebounded to above $66,000. It is expected that this momentum may push the price back to a high of $74,000.
Additionally, it stated that institutional demand continues to grow, with large asset managers Millenium and Schonfeld investing 3% and 2% of their AUM respectively in BTC spot ETFs. With massive sovereign and institutional adoption, easing inflation, and the upcoming U.S. election, this breakout could signal the resumption of the bull market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
A World Beyond SWIFT (II): Moscow's Underground Ledger—Garantex, Cryptex, and the Shadow Settlement System
Three years after being cut off from SWIFT by the West, Russia is attempting a new financial trade channel.
Crypto tycoons spend eight-figure security fees annually, fearing encounters like BlueZhanfei's experience.
No one understands security better than crypto industry leaders.
With a valuation of $1 billion, why hasn’t Farcaster managed to become a “decentralized” Twitter?
Farcaster acknowledges the difficulty of scaling decentralized social networks and is abandoning its "social-first" strategy to focus on the wallet business.
If AI agents start hoarding Bitcoin, what will happen to this monetary system originally designed for ordinary people?
The underlying logic of Bitcoin assumes that users will eventually die, and the entire network is not yet prepared to accommodate holders who “never sell.”
Trending news
MoreCrypto prices
More
