TechFlow reports, QCP Capital stated that last night BTC failed to break above the $67,000 resistance for the third time, yet it believes the price will eventually break out of this range. Reasons are as follows:
- BTC is leading the rally driven by unleveraged spot demand, with stable funding rates.
- Institutional and sovereign adoption is beginning to emerge.
- With 28 days until the halving, the pullback may have already ended.
- Strong December call option demand indicates bullish sentiment towards year-end.
Additionally, QCP Capital provided trading suggestions: Whenever Bitcoin drops below $60K, V-shaped rebounds have occurred repeatedly, clearly presenting buying opportunities. Accumulators allow purchasing BTC at prices below $60K, making now an ideal time to deploy, especially with elevated backend BTC volatility.
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