Crypto trading firm QCP Capital predicts Bitcoin will return to the $74,000 all-time high seen in March. The firm cites macroeconomic catalysts, rising institutional demand and sizable buys of $100,000 to $120,000 Bitcoin calls as the main bullish drivers. Bitcoin price rises above $66,000 on Thursday. Bitcoin price is likely to rally back to $74,000 in the coming weeks, it's all-time high reached in March, riding on three bullish catalysts, according to crypto trading firm QCP Capital.
The US Consumer Price Index numbers released on Wednesday, which pointed to a decline in inflation after three months of persisting price pressures, triggered a breakout across risk assets, including crypto markets. QCP Capital Broadcast Since the news, Bitcoin has traded close to the $66,000 level. Analysts at QCP Capital identified sizeable buyers of $100,000 to $120,000 Bitcoin calls for December 2024 in response to the recent price gains in the spot market.
Source: Digital Coin News (digitalcoinnews.net)
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