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Bitcoin reached an all-time high of $98,000 today, driven by institutional capital inflows and growing institutional interest in digital assets, according to QCP Capital's latest report.
QCP Capital: Bitcoin Likely to Remain Strong Until the End of the Year
The report highlighted the significant demand for call options expiring in January, March and June 2025, underlining the market's strong confidence in Bitcoin's long-term outlook.
Bitcoin ETF Inflows Are Increasing
Over the past three days, Bitcoin ETFs have recorded a cumulative net inflow of $1.84 billion, contributing to total U.S. ETF inflows of over $29.4 billion this year. These inflows are seen as a major factor supporting Bitcoin’s price rally.
The report also highlighted the impact of central banks loosening monetary policies around the world. This macroeconomic backdrop is expected to continue Bitcoin’s upward momentum through the end of 2024.
QCP Capital remains optimistic about Bitcoin’s outlook, with institutional interest and favorable market conditions providing a strong foundation for further growth. As the end of the year approaches, all eyes are on Bitcoin’s performance amid a rapidly evolving financial landscape.
*This is not investment advice.