QCP report: Bitcoin approaches $90,000 and enters a new stage, DOGE's rise is affected by policies

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The latest QCP report indicates that Bitcoin is entering a "new phase" after approaching $90,000, and its position as an asset for businesses and governments is becoming increasingly entrenched. Recent demand for Bitcoin ETFs has hit a record, with $2.28 billion flowing in over three days, including $1.8 billion in net inflows after the US election last week and another $1.1 billion at the start of this week, indicating strong market demand for Bitcoin. At the same time, influenced by Trump's announcement of the establishment of the "Department of Government Efficiency" (DOGE), DOGE has seen a significant rise, with the new department led by Elon Musk and Vivek Ramaswamy planning to reduce government bureaucracy and unnecessary regulations, driving a 20% increase in DOGE on Tuesday, with the price reaching $0.37 in the early morning, a cumulative increase of 153% since election day. Today, the market is focused on CPI and core CPI data, with the October data expected to remain stable and the year-on-year increase reaching 2.6%.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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