QCP Capital: Institutional demand for Bitcoin continues to strengthen, and interest in Bitcoin as a reserve asset is on the rise

ChainCatcher news, QCP Capital's latest analysis indicates that after Bitcoin's price briefly broke above $97,000, it has retreated to above $95,000. The U.S. government's transfer of 10,000 Bitcoins (approximately $963 million) related to Silk Road has triggered short-term volatility, with the front-end volatility curve in the options market showing that put option premiums are higher than call option premiums.

Institutional demand continues to strengthen, with a net inflow of $350 million into spot ETFs yesterday. MARA Holdings purchased $618 million in Bitcoin within two months, following MicroStrategy's investment strategy. Major mining companies like Riot Platform plan to suspend Bitcoin sales and consider expanding their holdings. Meanwhile, there are reports that Microsoft is considering purchasing Bitcoin, highlighting the growing interest of corporations in Bitcoin as a reserve asset.

In the macro market, the S&P 500 index has set a new historical high for the 54th time this year. Several Federal Reserve officials have expressed a preference for lowering borrowing costs at the next meeting, but the final decision will depend on the upcoming economic data. Analysts expect that this decision could trigger market volatility during the announcement window.