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QCP Capital: US CPI data boosts the risk asset market, BTC may return to $74,000

QCP Capital: US CPI data boosts the risk asset market, BTC may return to $74,000

QCP Capital2024/05/16 07:17
By:QCP Capital

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.

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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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