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
Research Report | GoPlus Project Detailed Explanation & GPS Market Value Analysis
Litecoin ETF ‘most likely’ approved next in US, Bloomberg analyst says
A Litecoin ETF would “most likely” be the next spot crypto ETF approved in the U.S., Bloomberg Analyst Eric Balchunas said.Canary Capital filed an amended S-1 form for its Litecoin ETF application on Wednesday, which may indicate engagement from the SEC.
ETH Price Prediction: What's Next?
Trending news
MoreCrypto prices
More
