According to PANews, Singapore crypto investment firm QCP Capital stated today that during the Asian session earlier, Bitcoin (BTC) surged past $106,500, reaching yet another milestone. In the past 12 hours, the total amount of short liquidations reached approximately $151 million, driving this round of increase, as the weekend market lacked liquidity and traders were overly complacent, leading to a squeeze of short positions in the market. The ratio of Bitcoin to gold reached an all-time high in this wave, further highlighting Bitcoin's status as 'digital gold' and consolidating its position as a more popular store of value compared to traditional gold.
Nasdaq 100 Index includes MicroStrategy, further boosting market sentiment. Michael Saylor hinted that the company might continue to buy Bitcoin even if the spot price exceeds $100,000. This inclusion may attract passive capital inflows into MicroStrategy's stock, indirectly making it easier for the company to raise funds to purchase Bitcoin. This week's Federal Reserve meeting seems to be just trivial background information for Bitcoin, as its trend remains firmly driven by market sentiment. Although the possibility is small, if the Federal Reserve and Powell take an extremely dovish stance, it could still support further increases in Bitcoin.
