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QCP Capital Names Reasons for Bitcoin's Growth Above $98,000

QCP Capital Names Reasons for Bitcoin's Growth Above $98,000

HappyCoinNewsHappyCoinNews2024/11/22 10:00
By:HappyCoinNews

Experts of QCP Capital published report, which analyzed the current situation in the cryptocurrency market. According to them, the growth of Bitcoin above the $98,000 mark was provoked by several key factors.

In particular, according to experts, the growth of the first cryptocurrency is due to increased demand for January call options against the backdrop of the approaching rally associated with the inauguration of President-elect Donald Trump.

In addition, traders continue to have strong interest in March and June call options, indicating long-term investor optimism about Bitcoin's prospects in 2025.

Analysts named the continuing influx of funds into spot markets as another driver of the growth in the value of the first cryptocurrency. bitcoin ETF . Over the past three days, net capital inflows have exceeded $1,84 billion, and since the beginning of 2024, the above-mentioned exchange instruments have attracted over $29,4 billion to the Bitcoin market.

Additionally, the optimism of crypto market participants is supported by the imminent change in the rules for regulating the industry for the better under the new White House administration.

The above factors will continue to have a favorable effect on digital gold in the short and medium term, according to QCP Capital.

EN @happycoinnews
EN @happycoinnews_en
0

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.

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