QCP Capital: The market stabilized this week, and large hedge funds actively increased their BTC upside exposure
Odaily2024/07/13 04:00
By:Odaily
Odaily News QCP Capital said in its latest market analysis that the market has regained some stability this week, with BTC and ETH rebounding to the critical $58,000 and $3,100. The reasons for this rebound include: 1. Macro market sentiment is positive as inflation slows. The market currently expects a 95% chance of a rate cut in September; 2. The German governments 50,000 BTC sell-off is complete; 3. Spot ETF demand is strong, with net inflows of about $1 billion this week. In addition, while cryptocurrency social media and retail sentiment have been in a state of panic, large hedge funds have been actively increasing their BTC upside exposure, especially December and March call options, targeting a price level of $100,000-120,000.
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