According to BlockBeats, QCP Capital released a report saying that the price of Bitcoin has once again exceeded the $50,000 mark after more than two years. This price increase is mainly due to the huge inflow of funds into Bitcoin spot ETFs, with an average daily purchase volume of 10,000 to 13,000 BTC, equivalent to about $500 million to $650 million in funds flowing in every day. QCP Capital expects that this trend of capital inflows will continue as global liquidity continues to shift into spot ETFs.
With financial giants such as Fidelity announcing that they will allocate 1-3% of cryptocurrencies to their All-in-One conservative ETFs, the crypto asset class has become the focus of mainstream investors. This week, there has also been a large number of purchases of Bitcoin call options, with nearly $10 million spent this week alone on option premiums with strike prices of $60,000 to $80,000 expiring from April to December. QCP Capital predicts that the price of Bitcoin is expected to easily break through its all-time high by the end of March.
