Bitcoin briefly touched $111,000, marking a new all-time high before sliding back to around $108,000.
Despite the pullback, analysts at QCP Capital believe the rally remains intact, backed by stronger fundamentals and subdued volatility.
The firm noted that the recent dip was largely driven by profit-taking, not a reversal in trend. Options activity reflected renewed bullish sentiment, with traders snapping up call contracts at the $130K strike for September—a sign that expectations for higher highs remain strong.
QCP also pointed to potential institutional catalysts ahead. One major firm, Strategy, is expected to channel proceeds from a $2.1 billion preferred share offering—yielding 10%—into Bitcoin purchases, which could fuel another leg up.
Still, analysts warned of macro risks on the horizon, including rising U.S. yields, a stronger dollar, and tariff uncertainty. While Bitcoin may stay resilient, they noted, altcoins could face more turbulence if volatility returns.
BitMEX co-founder Arthur Hayes has issued a cautious outlook for Bitcoin and the broader crypto market, predicting a possible short-term downturn as the U.S. government shifts its liquidity strategy.
Bitcoin’s bullish undercurrent continues to strengthen as on-chain data and derivatives market behavior reveal aggressive accumulation from long-term holders and whales.
As institutional adoption of Bitcoin accelerates, U.S. asset management giant Franklin Templeton has issued a cautionary note on the growing trend of crypto-based treasury strategies.
Bitcoin rose 1.78% over the past 24 hours to reach $109,500 at the time of writing, driven by surging institutional inflows into spot ETFs, easing global trade tensions, and strengthening technical momentum.