QCP Capital: BTC may still need to fluctuate in the current range, and will rise further if it breaks through $BTC
On September 30, QCP Capital posted on its official channel that at the end of the third quarter, the performance of stocks and BTC exceeded expectations, breaking the sluggish tradition of September. BTC rose by more than 7% this month, and is expected to record one of the strongest September performances ever. Entering October, the global risk appetite sentiment remains strong, and Goldman Sachs' major brokerage division shows that hedge funds' bets on rising IT stocks are three times that of falling IT stocks.
QCP Capital believes that BTC may continue to fluctuate within the current range, as historically, a large amount of profit-taking transactions have occurred at the current level. However, it remains optimistic about BTC's medium-term outlook, believing that a breakthrough of $70,000 may trigger further upward momentum.
