QCP Capital: US CPI data boosts risk asset market, may push BTC back to $74,000 high
2024-05-16 05:20:07
On May 16th, QCP Capital published that the US CPI data triggered a breakout in risk assets, and the price of BTC rallied above $66,000. They expect this momentum to push the price back to the highs of $74,000. In addition, it said that institutional demand continues to grow, with large asset managers Millenium and Schonfeld investing 3% and 2% of their assets under management in BTC spot ETFs, respectively. With significant adoption by sovereign and institutional institutions, easing inflation, and the upcoming US election, this breakout could signal a recovery of the bull market.
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