QCP Capital: Bitcoin is oscillating in the range of $90,000 to $94,500 in the short term, waiting for a catalyst event to break through $100,000.

QCP Capital Analysis pointed out that President Trump suspended his criticism of Federal Reserve Chairman Powell this week and promised to significantly reduce the high tariffs on Chinese goods by 145%, leading to a warming market sentiment. Bitcoin responded by rising, reaching as high as $94,500 during the day, marking its fifth consecutive day of gains, and briefly surpassing Google's parent company Alphabet to become the fifth largest asset in the world. Institutions continue to increase their positions, further solidifying Bitcoin's market capitalization status. Call options at $95,000 are actively traded, indicating market bets on further upward movement. The current market sentiment is overheated, and it may oscillate in the $90,000 to $94,500 range in the short term, waiting for a catalytic event to break through $100,000.