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QCP: Bitcoin breaks through $108,000, institutional buying becomes dominant
Gate News bot message, according to the latest analysis by QCP, the Bitcoin price has risen to $108,000 today in the short term. Currently, the long-term bond yields in Japan and the US are on an upward trend, leading to increased global macro uncertainty.
Data shows that Bitcoin's price trend has remained stable over the past month, driving FOMO sentiment after breaking historical highs. Currently, the rise in Bitcoin's price is primarily driven by institutional buying, with the strength of institutional purchases being a key factor in the price trend.
Source: QCP
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