Bitcoin Hits New All-Time Highs as Market Anticipates Growth

Bitcoin is experiencing dreamlike days, recently reaching a new all-time high of over $82,000. After a period of stagnation, the anticipated price resurgence materialized. Those expecting a rise in the last quarter were proven right. What are the latest market comments from QCP Capital experts?

Expert Insights on Cryptocurrencies

In their analysis, QCP Capital experts stated, “BTC continues to rise to record levels! Despite reaching new highs, large profit-taking in the long term has resulted in minimal market reaction. This indicates that the market is well-positioned for this rally.

The market is undoubtedly in a state of excitement, as BTC breaks key resistance and trades within a range over the past few months. Perpetual funding rates are very high, and base returns are at their highest in seven months. While structurally maintaining a bullish trend, we remain cautious against pullbacks stemming from leveraged selling. Historically, such increases in base returns have not lasted long.

In the short term, even while awaiting this week’s macro events, we expect spot prices to remain at these levels with softened volatility. Key events for this week include U.S. CPI (Wednesday), U.S. PPI (Thursday), and Powell’s anticipated clarity on a 25 basis point rate cut in December (Friday).”

Expectations in Cryptocurrency