QCP Capital: US CPI data boosts risk asset markets, or could push BTC back to $74,000 high
On May 16th, QCP Capital stated that the US CPI data caused a breakthrough in risk assets, with BTC prices rising above $66,000. They expect this momentum to potentially push prices back up to the high point of $74,000. In addition, they noted continued institutional demand, with large asset management companies Millenium and Schonfeld investing 3% and 2% of their asset management scale in BTC spot ETFs respectively. With significant adoption by sovereigns and institutions, inflation relief, and the upcoming US election, this breakthrough may mark the recovery of a bull market.
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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