Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

London Colour

QCP Capital2024/07/11 03:16
By:Sue Ann Sim

The macro backdrop has turned rosier over the past week, and we think crypto has bottomed as we were unable to break lower despite the huge selling pressure.

We maintain our bullishness due to the following tailwinds:

1. Labour numbers have come in softer the past week, and even Powell’s testimony to the Senate reaffirmed that market conditions were heading towards their end goal.

2. Despite over 6000 BTC being sold by the German Police, and the Sword of Damocles being the Mt Gox release hanging over us, BTC has formed a double bottom and failed to break below 54k.

3. Softer CPI numbers tomorrow could finally cement the Fed’s decision to cut in Sep and Dec.

4. The flurry of S-1 revisions for ETH spot ETFs could also signal that trading is slated to happen soon. We believe it will happen this month, especially if applicants announce fee schedules.

Trade Idea
We continue to prefer strategies that provide convex payoffs. ETH Sharkfins and OTM ERKOs continue to be attractive, especially with ETH ETFs looking to be around the corner.

Bullish BTC Sharkfin
Maturity: 27DEC24
Strike: 61,000
Knockout: 80,000
Max Payout: 66.88% p.a.

Get paid up to 66.88% p.a. if BTC expires just below 80,000 at expiry.

0

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.

You may also like

Weekend Brief

QCP Capital2024/07/15 16:58

Trending news

More

‌Spot copy trading

More
AIOnline
AIOnline
insight1000/1000
10405.83%
ROI
Total profit $53069.73
WhaleGo_YouTube
WhaleGo_YouTube
insight500/500
1375.41%
ROI
Total profit $3993.69

Bot copy trading

More
GoldenEgg
GoldenEgg
insight149/150
$3569.02
Total profit
Total subscriber profits $-285.11
BGUSER-FFF8CNJ4
BGUSER-FFF8CNJ4
insight8/150
$1756.56
Total profit
Total subscriber profits $97.94