Analysis Company QCP Capital Shares What It Expects for the Bitcoin (BTC) Price as the US Elections Approach!

Bitcoin While it rose above $71,000 with a 4% increase in the last 24 hours, investors expect the rise to continue as the US elections approach.

While the upward trend in the market continues, Singapore-based crypto trading firm QCP Capital Analysts evaluated Bitcoin and the situation in the market.

Analysts say Bitcoin’s rise above $70,000 for the first time in more than seven months spot Bitcoin ETF’He said it was supported by strong inflows of $1 billion in revenues and other factors.

Stating that the rise in cryptocurrencies has also spread to crypto-related stocks, analysts said that companies at the intersection of crypto and artificial intelligence, such as IREN, Hut 8, Bitdeer and TeraWulf, are the biggest beneficiaries of the latest rise in Bitcoin.

Bitcoin’s rise is beyond ETF inflows Donald Trump’Stating that Bitcoin is also supported by the increased likelihood of victory, analysts said that Bitcoin is in a better position for the rise compared to stocks.

QCP analysts recently stated that the continuous open interest in the stock markets is at the highest level annually and gives a strong signal for the rise, and said:

“Bitcoin has surged 3.5% since our last comment, surpassing the $70,000 level for the first time in more than seven months.

This is supported by several factors, including strong spot ETF inflows of almost $1 billion last week.

The increasing likelihood of Trump’s victory supported both stocks and Bitcoin.

“Although call options have softened as BTC consolidates above the 70,000 level, persistent open interest on exchanges is at a yearly high, signaling a strong position for potential upside.”

Analysts recently added that if Bitcoin remains above $70,000 this week, the price could rise to ATH and potentially even higher.

*This is not investment advice.