QCP: CPI will be the key to Bitcoin hitting new highs, and the market's long-short hedging game will intensify

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QCP Capital points out that BTC broke through $122,000, and ETH rose by over 21% in seven days to $4,300, with market focus shifting to Tuesday's US CPI data. If inflation slows down, it will consolidate the Federal Reserve's September rate cut expectations and may help BTC reach a new high. Despite strong upward momentum, traders are actively hedging downside risks, with volatility increasing. Whether BTC can break through further will depend on continued institutional fund and spot ETF inflows.

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