QCP: If BTC Breaks Through the $110,000 Resistance Level, It May Trigger a New Wave of Buying

Odaily Planet Daily reported that QCP Capital released an analysis stating: With Trump’s long-awaited cryptocurrency bill finally signed into law, Bitcoin prices remained stable over the extended holiday weekend and rebounded during Sunday’s illiquid trading window to an intraday high of $109,700, marking the highest weekly close in history. Despite market unease over the sudden reactivation of eight wallets dormant for 14 years, Bitcoin’s price remained resilient. The analysis notes that volatility is still near historical lows, but if Bitcoin breaks through the $110,000 resistance level, it could trigger a new wave of buying. Some large institutions appear to be preparing for this, as they continue to accumulate $130,000 September call options while firmly holding September $115,000/$140,000 call spreads, highlighting a structurally bullish outlook for the third quarter.