Bitcoin faces strong resistance in mid-$90,000s, QCP Capital warns

Although Bitcoin has surpassed the $90,000 mark on expectations of interest rate cuts, it is likely to face strong resistance in the mid-$90,000s, according to an analysis by trading firm QCP Capital. The firm described the current rally as a technical rebound amid shrinking liquidity, identifying the $80,000 to $82,000 range as a key support level, Coindesk reported. QCP Capital also expressed concern over weakening institutional demand, noting that U.S. spot Bitcoin ETFs have yet to see significant net inflows. It also highlighted that Strategy, the world's largest corporate holder of BTC, is under review for removal from an MSCI index. The analysis further suggested that weakening momentum in the AI sector, driven by expanding credit risk and a rise in NVIDIA's accounts receivable and inventory, could pressure the broader risk-asset rally that has supported Bitcoin's bull run in recent years.