TechFlow, May 23 — QCP released a report stating that Bitcoin's price has once again hit a new all-time high, surpassing the $111,000 mark. Despite a weak U.S. 20-year Treasury auction causing broad risk asset pullbacks, Bitcoin demonstrated strong resilience by completing a V-shaped rebound during Asian trading hours and reaching a fresh peak.
In stark contrast to gold, which remains stagnant at $3,300 per ounce, Bitcoin has entered a price discovery phase. While market volatility remains high, this rally is seen as more structurally supported than the previous one, with reduced speculative buying sentiment.
Options markets indicate growing investor confidence in the upward trend, with significant volume observed in September $130K call options. Improved U.S. regulatory conditions, continuous institutional inflows via ETFs and direct spot holdings, coupled with Strategy Company's issuance of $2.1 billion in perpetual preferred shares (STRF) potentially used for further Bitcoin accumulation, provide additional upside momentum to the price.
