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QCP: BTC breaks $122,000, tomorrow's CPI data may determine whether it can hit a historical peak.
ChainCatcher news, QCP Asia stated in its research report that under the influence of the US stock market correlation, BTC strongly rebounded to $122,000, recovering all the fall from last week; ETH rose 21% simultaneously, breaking through $4300, reaching a new high since 2021. The market is focused on the US CPI data to be released tomorrow. If inflation slows down, it may strengthen expectations for a Fed rate cut in September, potentially driving crypto assets to break through key resistance levels. QCP Asia points out that despite strong bullish sentiment, traders are still hedging against downside risks. Institutional funds and spot ETF demand will be key variables in whether BTC can continue to reach new highs.