QCP Capital said that the US CPI data triggered a breakthrough in risk assets, and the BTC price rebounded to above $66,000. They expect this momentum to push the price back to a high of $74,000.
In addition, it stated that institutional demand continues to grow, with large asset management companies Millenium and Schonfeld investing 3% and 2% of their AUM respectively in BTC spot ETFs.
With significant sovereign and institutional adoption, easing inflation, and the upcoming U.S. election, this breakout could signal the resumption of the bull market.
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