QCP: BTC breaks $122,000, tomorrow's CPI data may determine whether it can hit historical peaks

ChainCatcher news, QCP Asia stated in its research report that, under the influence of the U.S. stock market, BTC has strongly rebounded to $122,000, recovering all losses from last week; ETH has also risen 21% to break $4,300, reaching a new high since 2021.

The market is focused on the U.S. CPI data to be released tomorrow. If inflation slows down, it may strengthen expectations for a rate cut by the Federal Reserve in September, potentially pushing crypto assets to break through key resistance levels. QCP Asia pointed out that despite strong bullish sentiment, traders are still hedging against downside risks, and institutional funds along with spot ETF demand will be key variables in whether BTC can continue to set new highs.