QCP: Continue to follow the BTC 88,800 USD resistance level

2025-04-21 10:57:13

Deep Tide TechFlow news, on April 7, QCP Capital stated in an official channel that "Bitcoin staged its own Easter resurrection, breaking through $87,000 in early Asian trading. This strong rebound recovered most of the drop caused by former President Trump’s unexpected “Liberation Day” statement on April 2. Although the cryptocurrency market is no stranger to rises during low liquidity long holidays, this movement stands in stark contrast to the mild rise during last December’s Christmas period. This time, Bitcoin indeed delivered an impressive performance.

Bitcoin is not alone in the forest. Gold has also reached a historic high driven by the resurgence of trade war tensions and a weakening dollar. As the stock market fell last week and continued its correction from April, the narrative of Bitcoin as a safe-haven asset or inflation hedge has gained attention once again. If this dynamic persists, it could provide new impetus for institutional allocation of Bitcoin.

In fact, we have seen early signs of institutional confidence returning. The spot Bitcoin ETF recorded a net inflow of $13.4 million last week, in stark contrast to the net outflow of $708 million the previous week. In the options market, the position structure has become more balanced. The risk reversal levels across various maturities have flattened, diverging from the near-month bearish skew that persisted in previous weeks.

So, is the simultaneous rise of Bitcoin and gold today merely holiday market noise, or is it an important signal of Bitcoin’s transition to a safe-haven asset? If it is the latter, it would mark a substantial change in traditional finance’s perception of Bitcoin. As the European markets are still on holiday, market confirmation may take several trading days. The correlation between Bitcoin and gold, as well as the stock market, is worth closely monitoring.

Currently, we continue to focus on the key resistance level of $88,800. We remain cautious about making any clear conclusions before breaking through this level.

BTC0,74%

TRUMP0,2%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.