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.
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