QCP: This round of increases has more structural support than the previous one, with speculative chasing sentiment diminishing.

QCP released a report stating that Bitcoin's price has once again hit a new all-time high, breaking the $111,000 mark. Despite a weak auction of U.S. 20-year Treasury bonds leading to a general pullback in risk assets, Bitcoin has still shown strong resilience, completing a V-shaped rebound during the Asian trading session and setting a new high.
In stark contrast to gold, which is stagnating at $3,300/ounce, Bitcoin has entered a price discovery mode. Although market volatility is high, this round of increases is considered to have more structural support than the previous round, with speculative chasing sentiment diminishing.
The options market shows that investors are increasingly confident in an upward trend, with a large number of September 130K call option contracts being swept up. Improvements in the U.S. regulatory environment, continuous inflows of institutional funds from ETFs and direct spot allocations, along with Strategy's $2.1 billion perpetual preferred stock issuance (STRF) potentially being used to increase Bitcoin holdings, provide further upward momentum for prices.