QCP: If BTC Breaks Through the $110,000 Resistance Level, It May Trigger a New Wave of Buying
Odaily Planet Daily reported that QCP Capital released an analysis stating: With Trump’s long-awaited cryptocurrency bill finally signed into law, Bitcoin prices remained stable over the extended holiday weekend and rebounded during Sunday’s illiquid trading window to an intraday high of $109,700, marking the highest weekly close in history. Despite market unease over the sudden reactivation of eight wallets dormant for 14 years, Bitcoin’s price remained resilient. The analysis notes that volatility is still near historical lows, but if Bitcoin breaks through the $110,000 resistance level, it could trigger a new wave of buying. Some large institutions appear to be preparing for this, as they continue to accumulate $130,000 September call options while firmly holding September $115,000/$140,000 call spreads, highlighting a structurally bullish outlook for the third quarter.
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
AI boosts Southeast Asia's digital economy: online spending expected to reach $368 billion this year, though growth rate slightly slows
Research shows that artificial intelligence will drive the scale of Southeast Asia's digital economy to 368 billion US dollars.
The commercialization process of nuclear power is progressing slower than expected; Barclays is bearish on NuScale Power (SMR.US)
Barclays has downgraded NuScale Power (SMR.US) from "Hold" to "Underweight," with a target price of $5.
Nomura: Bond short squeeze and AI selloff trigger cross-asset 'reverse dispersion' rotation, with capital flowing into value stocks and small-cap stocks
Nomura Securities analyst McElligott believes that bond tightening and turmoil in the field of artificial intelligence will lead to a market reversal.
AI Is Splitting Software Into Winners and Losers, Citi’s Tyler Radke Says
Crypto prices
More
