The update of the consumer price index (CPI) in the United States caused a breakthrough in the market of high-risk assets, experts from QCP Capital said. This could give the necessary impetus to Bitcoin, the price of which will rise to $74,000, analysts are confident.
In their forecast, experts noted an increase in the number of buyers of call options in the $100,000-$120,000 zone for December 2024. According to analysts, this indicates the prevalence of bullish sentiment among investors.
This is confirmed by data from the Deribit exchange:
Allocation of call options expiring in December 2024. Source: Deribit.
QCP Capital experts pointed to the growth of institutional demand as another driver of the bull market. As an example, the forecast provides data for Millennium and Schonfeld, which invested 3% and 2% of their assets in shares of spot Bitcoin ETFs, respectively.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
