{"id":30813,"date":"2024-05-16T11:44:03","date_gmt":"2024-05-16T11:44:03","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-heres-why-qcp-capital-expects-btc-run-to-74k\/"},"modified":"2024-05-16T11:44:03","modified_gmt":"2024-05-16T11:44:03","slug":"bitcoin-price-heres-why-qcp-capital-expects-btc-run-to-74k","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-heres-why-qcp-capital-expects-btc-run-to-74k\/","title":{"rendered":"Bitcoin price: Here\u2019s why QCP Capital expects BTC run to $74k"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Bitcoin surges past $66k after US CPI data triggers buyside pressure<\/span><\/li>\n<li><span style=\"font-weight: 400\">Here\u2019s why QCP Capital analysts say BTC could run to $74k<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin price<\/a> surged past the $66,000 mark on Thursday to hit highs last seen in April amid a fresh dose of bullish sentiment.<\/span><\/p>\n<p><span style=\"font-weight: 400\">BTC price reached $66,699 on US-based crypto exchange Coinbase, extending gains seen when markets soared on softer-than-expected US inflation data released on Wednesday.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bitcoin price outlook: QCP Capital says bulls can reclaim the ATH<\/span><\/h2>\n<p><span style=\"font-weight: 400\">According to analysts at QCP Capital, the bullish momentum currently surrounding Bitcoin could see prices run to highs of $74,000.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The market reaction to the US Consumer Prices Index (CPI) data release, as well as the broader traction for spot Bitcoin ETFs, are potential catalysts.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">\u201cUS CPI numbers triggered a break out of the range across risk assets. BTC has since traded back above 66k. \u2060We expect bullish momentum here that could take us back to the highs of 74k. The desk saw sizable buyers of 100-120k BTC Calls for Dec 2024 on this move higher in spot,\u201d the Singapore-based platform said in a <a href=\"https:\/\/t.me\/QCPbroadcast\/1221\" target=\"_blank\" rel=\"noopener\">note<\/a> on Thursday.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">The analysts also pointed to the increased institutional demand for the flagship cryptocurrency. The last few days have seen large asset managers file their 13Fs, disclosing huge positions in <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-etf\/\">spot Bitcoin ETFs<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For instance, Susquehanna, Morgan Stanley and the State of Wisconsin Investment Board have disclosed huge holdings of BTC ETFs. Asset managers Millennium and Schonfeld have invested roughly 3% and 2% of their assets under management (AUM) respectively into spot Bitcoin ETFs.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">\u201cThe stars seem to be aligning on this breakout with significant sovereign and institutional adoption, abating inflation and upcoming US elections. Is this the resumption of the bull market?\u201d the QCP traders pondered.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">At the time of writing, the benchmark cryptocurrency was up more than 5% in 24 hours, with trading volume at over $37.8 billion and showcasing a 24-hour increase of 93%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">BTC price reached its all-time high of $73,737 on March 14.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-price-heres-why-qcp-capital-expects-btc-run-to-74k\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Bitcoin surges past $66k after US CPI data triggers buyside pressure Here\u2019s why QCP Capital analysts say BTC could run to $74k Bitcoin price surged past the $66,000 mark on Thursday to hit highs last seen in April amid a fresh [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":30814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30813"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=30813"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/30814"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=30813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=30813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=30813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}