QCP Capital: Bitcoin has entered a "new phase" and has become an important asset held by enterprises, governments, and institutions
ChainCatcher news, QCP Capital's latest analysis points out that Bitcoin is approaching the $90,000 mark, entering a "new phase," and has become an important asset held by enterprises, governments, and institutions. Demand for Bitcoin ETFs has reached an all-time high, with a net inflow of $2.28 billion in just three days. After the U.S. elections, Bitcoin ETFs attracted $1.8 billion in funds, starting this week strong with another net inflow of $1.1 billion.Meanwhile, Dogecoin has seen a significant surge. After Trump announced the establishment of the Department of Government Efficiency (abbreviated as "DOGE"), the price briefly touched $0.43 and is currently trading at $0.37, marking an increase of nearly 20%. Tesla CEO Elon Musk and former Republican candidate Vivek Ramaswamy will lead the department, aiming to streamline federal agencies and reduce excessive regulation. Since election day, Dogecoin has risen by 153%, far exceeding Bitcoin's 30% increase, and its market capitalization has surpassed XRP, jumping to sixth place.The market is focused on the CPI data to be released today, with the core CPI for October expected to remain at 0.3% and the annual CPI projected to rise by 2.6%. Currently, the market expects a 70% probability of a final rate cut in December, but today’s CPI, the PCE data on November 27, and potential policy changes from Trump could all influence the Federal Reserve's final decision.