According to Deep Tide TechFlow news, on December 16, QCP released a daily market report stating that Bitcoin broke through $106,500 during the Asian morning session. Approximately $151 million in short positions were liquidated in the past 12 hours, driving this wave of gains. Despite insufficient market liquidity and calm sentiment over the weekend (with Deribit's funding rate briefly turning negative), bulls successfully pushed higher.
It is worth noting that the BTC/gold ratio has reached an all-time high, further strengthening Bitcoin's position as 'digital gold'. At the same time, MicroStrategy has been included in the Nasdaq 100 index, and its CEO Michael Saylor hinted that they will continue to buy even if the BTC price exceeds $100,000, which injects new momentum into the market. Analysts believe that passive funds may increase their holdings of MicroStrategy stock, indirectly facilitating its fundraising to purchase Bitcoin.
This week's Federal Reserve meeting seems to be merely background noise for the crypto market, as Bitcoin remains completely driven by market sentiment. While the likelihood is extremely low, if the Federal Reserve and Powell were to adopt an extremely dovish stance, it could still provide further upward momentum for Bitcoin.
