QCP: This Rally Has More Structural Support Than the Previous One, with Reduced Speculative Buying Sentiment

QCP released a report stating that Bitcoin's price has once again reached a new all-time high, surpassing the $111,000 mark. Despite a weak 20-year U.S. Treasury auction leading to a general pullback in risk assets, Bitcoin demonstrated strong resilience, completing a V-shaped recovery during the Asian trading session and setting a new high. In stark contrast to gold, which has stagnated at $3,300 per ounce, Bitcoin has entered a price discovery mode. Although market volatility is high, this rally is considered to have more structural support than the previous one, with reduced speculative buying sentiment. The options market shows increased investor confidence in the upward trend, with a large number of September 130K call option contracts being snapped up. The improved U.S. regulatory environment, continuous institutional inflows from ETFs and direct spot allocations, along with Strategy Company's $2.1 billion perpetual preferred stock issuance (STRF) potentially used to increase Bitcoin holdings, provide further upward momentum for the price.