QCP Capital: BTC likely to remain range-bound below $84K resistance

QCP Capital has identified the U.S.-China summit and U.S. inflation data as key market variables this week, forecasting that BTC will likely continue to trade in a range below resistance near $84,000 for the time being. The firm noted that BTC holding the $80,000 level despite recent spot ETF outflows is a positive sign. QCP Capital explained that if this week's CPI and PPI data show signs of stabilizing inflation, it could create a favorable environment for the crypto market. The firm also added that the U.S. Senate Banking Committee is scheduled to review the Clarity Act, and progress in those discussions could affect ETF and institutional fund flows.