QCP Capital: Despite the pervasive panic on social media, large hedge funds are still betting that BTC will rise to $100,000 by the end of the year
QCP Capital announced on its official channel that the market has regained some stability this week, with BTC and ETH rebounding to key levels of $58,000 and $3,100 respectively. The reasons for this bounce include:
· Positive macro sentiment, slowing inflation, with the market currently predicting a 95% chance of interest rate cuts in September.
· The German government's sale of 50,000 BTC is complete
· Strong demand for spot ETFs, with net inflows of about $1 billion this week.
In terms of volatility, although the cryptocurrency social media and retail sentiment have been screaming panic, large hedge funds have been confidently and actively buying BTC on the rise, especially December and March call options targeting price levels between $100k-$120k.
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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