QCP Capital Predicts: Bitcoin Price May Fluctuate Between $62,000 and $67,000 in the Short Term
Publication Time:2024-08-26 19:37:09
QCP Capital recently released a report providing an in-depth analysis of the cryptocurrency market. The report mentions that while there has been aggressive bullish call buying after the Jackson Hole meeting, there is also a significant amount of long-dated call options with strike prices near $100,000 expiring in March 2025 being sold. This indicates that although the market is generally bullish, it does not expect a massive explosive growth in the short term. The report also points out that even if the bitcoin price increases, from the trading volume data, the put option preference for both BTC and ETH in the coming months is significantly higher than the call options, reflecting a cautious attitude to some extent. The report concludes by emphasizing that while price increase is a key factor, the trading volume shows that market participants are adopting a wait-and-see approach. Therefore, the bitcoin price may continue to fluctuate between $62,000 and $67,000 in the short term.
Bitcoin
Price Fluctuation
QCP Capital
$62,000-$67,000 Range