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Will new records continue to come in Bitcoin, or has the rally stopped? The analysis company evaluated the latest situation in BTC!
Bitcoin (BTC) has reached new records after a challenging four months, climbing above 111,000 dollars according to Binance TR data.
While the general expectation in the market is focused on the continuation of the rise in Bitcoin, the Singapore-based cryptocurrency company QCP Capital evaluated the current situation of Bitcoin.
According to this, analysts stating that the upward trend in Bitcoin is strong indicated that the short pullback after the ATH was due to profit-taking, but that upward demand started again quickly.
Analysts stating that the recent BTC rise reflects a solid trend supported by advanced structural fundamentals and relatively low volatility said, "this rally feels structurally stronger than the previous one."
Stating that the options market also points to a rise in Bitcoin, analysts said that after a short-term decline, traders quickly bought calls.
Analysts indicating that the bull trend continues to persist have added that the institutional Bitcoin bull Strategy's plan to use the 2.1 billion dollar, 10% yielding Perpetual Preferred Stock (STRF) issuance for BTC purchases could be a catalyst that might drive prices even higher.
Despite all this positive atmosphere, analysts still said that broader macro risks continue to remain in play.
At this point, QCP analysts stated that renewed tariff concerns, rising U.S. yields, and a stronger dollar could bring volatility, especially for altcoins.