QCP: CPI data may determine whether BTC can break through its historical high
3 hours ago
According to Odaily Planet Daily, QCP Asia stated in a research report that BTC has broken through $122,000, recouping last week's losses. ETH has risen 21% over the past seven days, breaking through $4,300 for the first time since 2021. Currently, BTC remains highly correlated with US stocks, and the market is focused on Tuesday's CPI data. If it falls short of expectations, it could reinforce expectations of a September Fed rate cut. Market sentiment remains bullish, but traders are still hedging against downside risks. The key question is whether institutional funds and spot ETF demand can propel BTC above key resistance levels.
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