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Amid Bitcoin’s (BTC) rally, experts at QCP Capital wondered whether BTC could hit all-time highs sooner than the end of March. 
At the time of writing, BTC is trading at $58,300, up 4% in 24 hours and 13% in the last seven days, according to <a href="https://crypto.news/tag/CoinMarketCap/">CoinMarketCap</a> data. Following the rapid growth of the first cryptocurrency, analysts at QCP Capital <a href="https://t.me/QCPbroadcast/1140" target="_blank" rel="noreferrer noopener">wondered</a> whether BTC would reach all-time high earlier than the end of March 2024. 
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 <img loading="lazy" decoding="async" width="1024" height="567" src="https://crypto.news/app/uploads/2024/02/Screenshot-2024-02-28-at-10.55.11-1024x567.png" alt="QCP Capital explains when to expect Bitcoin's all-time high - 25" class="wp-image-14253197">
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 Source: CoinMarketCap
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In their latest analysis, experts presented bullish and bearish scenarios for <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a>. The first is that ongoing large capital inflows into spot Bitcoin ETFs will continue the uptrend as <a href="https://crypto.news/tag/bitcoin-halving/" target="_blank" rel="noreferrer noopener">halving</a> is expected soon. 
Thus, the volumes of spot <a href="https://crypto.news/tag/etf/" target="_blank" rel="noreferrer noopener">ETFs</a> exceeded $3.2 billion, and the net inflow amounted to $520 million, analysts note. The rapid price surge triggered short liquidation and a speculative buying frenzy, with funding rates on local exchanges skyrocketing and even longer-dated futures trading at up to +16% over the spot market. 
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 “Demand for vols has picked up, but vol spikes have been quickly sold into. Despite the size of the move, its one-way nature means that the realized volume remains close to 40%. We see the large 60k strike as a natural target for March expiry.” <cite>QCP Capital experts</cite>
</blockquote> 
According to the second forecast, volatile funding rates may limit speculative fervor, and the crypto industry may see some reduction in leverage in the short term and possibly a pullback towards the $50,000 level. 
 You might also like: <a href="https://crypto.news/bitcoin-surpasses-56k-traders-betting-on-further-rise/"> Bitcoin surpasses $56k, traders betting on further rise </a> 
Since the beginning of this year, Bitcoin has risen in price by 35%, and since the beginning of last year, by almost 250%. It is now 16% away from its all-time high of $69,000 set in November 2021. Amid the BTC rally, the rest of the top 10 cryptocurrencies by market capitalization are also showing significant growth. 
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 <img loading="lazy" decoding="async" width="1024" height="569" src="https://crypto.news/app/uploads/2024/02/Screenshot-2024-02-28-at-10.36.16-1024x569.png" alt="QCP Capital explains when to expect Bitcoin's all-time high - 26" class="wp-image-14253183">
 <figcaption class="wp-element-caption">
 Source: CoinMarketCap
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Crypto market participants highlight several reasons for the rally. Thus, there is growth in the inflow of funds into <a href="https://crypto.news/galaxy-digital-ceo-mike-novogratz-predicts-etfs-will-drive-bitcoin-adoption/" target="_blank" rel="noreferrer noopener">crypto funds</a>, the approach of <a href="https://crypto.news/the-potential-impact-of-bitcoin-halving-on-the-cryptocurrency-market-opinion/" target="_blank" rel="noreferrer noopener">halving</a>, and expectations of the Federal Reserve System (FRS) switching to lowering the key interest rate. 
 Read more: <a href="https://crypto.news/the-flippening-debate-can-ethereum-surpass-bitcoin/"> The flippening debate: can Ethereum surpass Bitcoin? </a>

QCP Capital explains when to expect Bitcoin’s all-time high

crypto.news

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