Bitcoin Slips to $108K After New High, But Bullish Signals Persist
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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.
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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.
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