QCP Capital: In the short term, the spot price of BTC is likely to continue to fluctuate in the range of $62,000-67,000
QCP Capital published an analysis saying that after the Jackson Hole meeting, the Bitcoin trading desk saw aggressive bullish spread buying, but there were also very large calls sold with strike prices around $100,000 until March 2025. Does this mean that the market is bullish, but it is not expected to have a blowout trend so soon. Even if the spot price rises, the put option bias of BTC and ETH before October is higher than the call option from the trading volume. Considering the overwhelming bullish sentiment, this is surprising, and it may also indicate that the market is ready for this trend and profited very quickly by selling call options. Although the price increase is decisive, the trading volume shows that the market is hesitant. With the lower front-end trading volume, the BTC spot price is likely to continue to fluctuate in the $62,000-67,000 range in the short term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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