Odaily Planet Daily reported that QCP stated on its official channel that Bitcoin broke through $106,500 during the early trading hours in Asia. Approximately $151 million in short liquidations over the past 12 hours drove this increase, as the market squeezed shorts in a low liquidity and lethargic weekend (Deribit's funding rate briefly turned negative), accelerating the rise in Bitcoin's price. During this period, the Bitcoin/gold ratio hit an all-time high, further reinforcing Bitcoin's position as 'digital gold' and solidifying its role as a more favored store of value compared to traditional gold. MicroStrategy's inclusion in the Nasdaq 100 index also added momentum to market sentiment. Michael Saylor hinted that the company still plans to continue purchasing Bitcoin even if spot prices exceed $100,000. This inclusion may trigger passive capital inflows into MicroStrategy's stock, indirectly making it easier for the company to raise funds for purchasing Bitcoin. This week's central bank meetings seem to be just background noise for the crypto market, with Bitcoin still completely driven by market sentiment. Although the likelihood is extremely low, if the Federal Reserve and Powell take an extremely dovish stance, it may still provide further upward momentum for Bitcoin.

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