QCP Capital: Bitcoin breaks through $70,000 for the first time in more than seven months thanks to a variety of factors
QCP Capital pointed out that Bitcoin has broken through the $70,000 mark for the first time in over seven months. This is due to various factors, including strong inflows of nearly $1 billion into spot ETFs last week. This excitement has extended to stocks related to cryptocurrencies. IREN, Hut 8, Bitdeer, and TeraWulf have benefited from the increase in demand for artificial intelligence and the recent rebound of Bitcoin. The Trump administration may adopt expansionary fiscal policies, which could push up deficits and inflation, making BTC particularly easy to benefit from in the medium term.
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