QCP Capital: BTC Momentum to Reach $74,000 All-Time High

IconCNT16 May, 2024

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QCP Capital: BTC Momentum to Reach $74,000 All-Time High

**QCP Capital Predicts Robust Momentum for Bitcoin Price** Singapore-based QCP Capital anticipates bullish momentum driving Bitcoin (BTC) towards its record-breaking high of $74,000. The recent rally in risk assets following the US April CPI release has had a positive impact on BTC, resulting in a surge above $66,000. QCP Capital attributes this surge to large-scale purchases of call options for December maturity, indicating significant institutional demand. Moreover, asset management giants Millennium and Schonfeld have allocated portions of their assets to Bitcoin ETFs, further fueling positive sentiment. The trading firm believes that BTC investments by nations and institutions, combined with easing inflation and the impending US presidential election, are contributing to the ongoing recovery. **Previously on [May 16, 2024], "QCP Capital Anticipates Bitcoin's Return to $74,000 High"**

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