QCP: This round of rise has more structural support than the previous round, and speculative chasing sentiment has decreased

According to Golden Finance, QCP has released a report stating that the price of Bitcoin has once again hit a historic high, surpassing the $111000 mark. Although the weak auction of US 20-year treasury bond bonds led to a general pullback in risky assets, Bitcoin still showed strong resilience, completing a V-shaped rebound and hitting a new high in Asian trading hours. In sharp contrast to the stagnant performance of gold at $3300 per ounce, Bitcoin has entered a price discovery mode. Although the market volatility is high, this round of rise is considered to have more structural support than the previous round, and speculative chasing sentiment has decreased. The options market shows that investors have increased confidence in the upward trend, with a large number of September 130K call option contracts being sold out. The improvement of the regulatory environment in the United States, the continuous inflow of institutional funds brought about by ETFs and direct spot allocation, and the potential use of Strategy's $2.1 billion perpetual preferred stock issuance (STRF) to increase holdings of Bitcoin, have provided further upward momentum for the price.