According to BlockBeats news, on December 16, QCP published a daily market report revealing that Bitcoin reached $106,500 during the early Asian trading session. The rally was driven by a $151 million short squeeze in the previous 12 hours, accelerated by low liquidity and relaxed sentiment during the weekend.
This surge pushed the Bitcoin/gold ratio to an all-time high, reinforcing Bitcoin’s “digital gold” status and its role as a preferred store of value compared to traditional gold. Additionally, MicroStrategy’s inclusion in the Nasdaq 100 Index added momentum to market sentiment, as CEO Michael Saylor hinted that the company plans to continue buying Bitcoin even if the spot price exceeds $100,000.
This inclusion may trigger an inflow of passive funds into MicroStrategy’s stock, indirectly making it easier for the company to raise funds to purchase Bitcoin. Central bank meetings this week seem to have little impact on the crypto market, with Bitcoin remaining driven by market sentiment. While unlikely, a highly dovish tone from the Fed and Powell could potentially provide further momentum for Bitcoin’s rise.
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