Bitcoin’s Next Stop: $126K? QCP Capital Lays Out Explosive BTC Bull Case

Brace for impact—QCP Capital just dropped a bullish bomb on Bitcoin's trajectory. Their latest analysis suggests the king of crypto could be gearing up for a moonshot to $126,000. Here's why the smart money's paying attention.

The $126K blueprint

QCP's thesis hinges on a perfect storm of institutional adoption, supply shocks, and macroeconomic tailwinds—the same factors that propelled BTC to previous all-time highs, just supercharged. No crystal balls here, but their track record demands attention.

Wall Street's worst nightmare

While traditional finance scrambles to keep up with 20th-century regulations, Bitcoin keeps eating their lunch. Another 2x from current levels would make BTC larger than half the S&P 500 components—a delicious irony for the 'tulip bubble' crowd.

Buckle up or get left behind. The next crypto cycle's coming in hot.

Key Insights:

• Bitcoin price fell to $112,000 after U.S. economic data and fresh tariffs triggered heavy selloffs.
• Options traders positioned for a rebound, eyeing $124,000 to $126,000 targets.
• CryptoQuant data shows long-term holders remain firm despite short-term pressure.

The price of Bitcoin (BTC) dropped to $112,000 on Friday, August 2, after another wave of market pressure.

Market analytics service platforms QCP Capital and CryptoQuant say the fall may be short-lived.

Their rationale points to strong long-term holding activity and fresh signs from the options market that a rebound could follow.

Bitcoin Price Drops to $112,000 After Third Straight Friday Selloff

Bitcoin fell to $112,000 on August 2, making it the third Friday in a row that the market closed lower.

The sharp drop triggered over $1 billion in long position liquidations. The MOVE came as investors reacted to weak U.S. job numbers and new tariffs from the U.S. government.

These developments caused traders to pull back from risky assets. According to QCP Capital, the drop in bitcoin matched a broader decline across stocks and other markets.

More importantly, the shift reflected growing concerns about global economic conditions.

Data showed that spot Bitcoin ETFs recorded their second-largest single-day outflow. ethereum ETFs also saw their fourth-largest.

This raised questions about whether institutional investors WOULD return to support prices in the near term.

Still, Bitcoin ended July with its highest monthly close ever. QCP noted this kind of pullback, especially after a strong rally.

This is because it often clears out too much leverage and resets the market for the next move.

Options Market Shows Traders Are Still Active

It is worth noting that despite the decline, traders in the options market are not stepping back. QCP reported high interest in a specific strategy using call options expiring on August 29.

More importantly, the trades focused on striking Bitcoin prices at $118,000, $124,000, and $126,000. This shows that some traders are preparing for a bounce, with a possible target NEAR $124,000.

QCP also noted that while demand for protective puts was still high, it had not reached panic levels. According to the outlook, if Bitcoin price moves back above $115,000, the pricing in the options market could start to calm.

On Binance exchange, net taker volume dropped below $1.5 billion on August 1. This showed that sell orders were outweighing buys.

Similarly, some analysts linked this drop to the forced closure of long positions around $114,000.

Many of these positions were placed during the earlier recovery and got liquidated as prices fell.

It is important to mention that funding rates across key cryptocurrency exchanges also turned negative. If anything, this shift suggests that more traders are betting against Bitcoin in the short term.

Long-Term Holders Still Confident in Bitcoin Price, Says CryptoQuant

While short-term traders reacted to the selloff, data from CryptoQuant showed that long-term holders remained steady.

The Net Unrealized Profit/Loss (NUPL) metric stayed above 0.5. This means most long-term holders are still in profit and are not rushing to exit. Short-term holders, however, showed signs of pressure. Some began to sell as profits dropped during the bitcoin price slide.

This group is often more sensitive to quick moves in the market. It is important to add that CryptoQuant also noted renewed activity in older Bitcoin wallets.

When these wallets move coins after long periods of being inactive, it may point to distribution by early holders. This has happened in past market cycles. In addition, QCP said that despite recent weakness, some areas of the market remain solid.

They stated the ongoing progress in regulation, steady use of stablecoins, and growing interest from institutions.

They added that upcoming data on ETF flows and shifts in market volatility will be important to watch.

It is important to add that if more money starts coming in and price movements calm down, some market participants believe that the price of Bitcoin might be in a good position to move higher again.