Bitcoin

April

Read

Analysts at QCP Capital&nbsp;believe that BTC’s capitulation to $50,000 will continue its upward trend through to March 2024. 
BTC has again <a href="https://t.me/QCPbroadcast/1134" target="_blank" rel="noreferrer noopener">broken</a> above the $50,000 level for the first time in over two years, an upward trend some an analysts expect will continue through March 2024. 
The move comes from impressive inflows from BTC spot ETFs of around $500-650 million per day, amounting to 10,000-13,000 BTC being purchased daily. 
Noting such trends, analysts expect these inflows to continue as global liquidity moves into spot <a href="https://crypto.news/tag/etf/" target="_blank" rel="noreferrer noopener">ETFs</a>. 
<blockquote class="wp-block-quote"> 
 “With the likes of Fidelity announcing a 1-3% cryptocurrency allocation in their All-in-One conservative ETF, the crypto asset class is now front and center for mainstream investors.” <cite>QCP Capital analysts</cite>
</blockquote> 
In addition to spot inflows, there has been massive buying of <a href="https://crypto.news/demand-for-btc-products-10-times-greater-than-supply-says-michael-saylor/" data-type="post" data-id="14247876">BTC</a> call options, analysts at QCP Capital points out. This week, about $10 million was spent on insurance premiums for 60,000-80,000 strikes, which expire from April to December. 
<blockquote class="wp-block-quote"> 
 “On the back of these flows, BTC can easily break all-time highs by the end of March” <cite>QCP Capital analysts</cite>
</blockquote> 
At the beginning of the week, the price of <a href="https://crypto.news/bitcoin-price-sets-valentines-day-winning-record-can-it-reach-55k/" data-type="post" data-id="14248625">Bitcoin</a> for the first time since December 2021 exceeded the $50,000 mark. BTC then broke through the $52,000 level on Feb. 14, according to <a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a> data. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="469" src="https://crypto.news/app/uploads/2024/02/Screenshot-2024-02-15-at-12.55.10-1024x469.png" alt="QCP Capital&nbsp;sets new deadline for BTC's all-time-high - 27" class="wp-image-14248799">
 <figcaption class="wp-element-caption">
 Source: CoinMarketCap
 </figcaption>
</figure> 
 Read more: <a href="https://crypto.news/bitcoin-price-sets-valentines-day-winning-record-can-it-reach-55k/"> Bitcoin price sets Valentine’s Day winning record: Can it reach $55k? </a>

QCP Capital sets new deadline for BTC’s all-time-high

crypto.news

Other articles published on Feb 15, 2024

$52,000 And Climbing: Bitcoin Eyes New Highs This March, Predicts Top Firm

Indicators and Patterns that Proof the ‘Biggest Altcoin Season Since 2017’ Is Upon Us

Most Trending Cryptos on Ethereum Chain Today – Mind, Smog, TAO Inu

XRP Paints Biggest Bullish Sign in 2024

Can Sui’s Token (SUI) Surge Beyond $2? Expert Weighs In Amid Collaboration With Major Gaming Firm

Coinbase Earnings Report Highlights

Join our free newsletter for daily crypto updates!