QCP Capital: The rise in BTC price benefits from the massive inflow of funds into its spot ETF, and it is expected to break through the historical high by the end of March

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2024/02/15 12:55

QCP Capital released a report stating that the price of Bitcoin has once again broken through the $50,000 mark after more than two years. This price increase is mainly due to the massive inflow of funds into Bitcoin spot ETFs, with daily purchases reaching 10,000 to 13,000 BTC, equivalent to about $500 million to $650 million in funds flowing in each day.

QCP Capital predicts that this trend of fund inflows will continue as global liquidity continues to flow into spot ETFs. In addition to the influx of spot funds, there was also a large amount of buying behavior for bullish Bitcoin options this week alone. Nearly $10 million was used to purchase option premiums with strike prices ranging from $60,000 to $80,000 expiring from April to December.

Driven by these capital flows, QCP Capital forecasts that the price of Bitcoin could easily break its historical high before the end of March.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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