en.bitcoinsistemi.com
Bitcoin, which dropped to the level of $ 60,700, showed a great recovery last night and exceeded $ 70,000 once again.
$BTC, which was at $71,200 at the time of writing, increased by 4.6% in the last 24 hours. While this increase was affected by the fact that spot Bitcoin ETFs recorded net positive inflows after the strong outflows they experienced last week, a positive report came from QCP Capital.
At this point, QCP Capital analysts think that the rise in Bitcoin may continue. Because analysts said $BTC may be preparing to break all-time highs and rise towards the psychological target of $ 100,000.
Analysts stated that Bitcoin's rise above $ 70,000 was due to the London Stock Exchange's announcement that it would launch ETNs for both Bitcoin and Ethereum ($ETH) from May and the strong demand for $BTC from asset managers.
QCP Capital recently said that unless there is a broader macro risk-off, the next rally for Bitcoin and crypto is inevitable.
“Bitcoin may be about to break all-time highs again and take another step towards the long-awaited $100,000 level.
With news that the London Stock Exchange will begin trading ETN for $BTC and $ETH in May, $BTC rose above $70,000 overnight. There is definitely strong bullish momentum in $BTC at this point.
Anecdotally, asset desks of major banks are seeing tremendous demand from clients for $BTC spot ETFs. Asset managers also continue to add $BTC allocations as 'portfolio diversifiers'.
“Absent a broader macro risk-off at this point, the next leg up seems inevitable at this point.”
*This is not investment advice.