According to BlockBeats news, on November 15, QCP Capital posted on its official channel that given Bitcoin’s strong upward trend since the U.S. election, it believes that the target price of $100,000 to $120,000 may not be far away. As the market prepares for its next rally, it’s important to note the following trends and risk factors:
· Implied volatility has been falling as many large players prepared for it and sold call options on the upside. With each new high, trading desks observe the market selling calls and buying puts to hedge against downside risk.
· The market remains highly leveraged, especially among altcoins, with heavy leverage pushing perpetual funding rates (1 year) to 50-100%. So especially for altcoins, the risk of deleveraging can be quite significant.
QCP Capital believes that BTC’s potential strength represents a systemic shift in the market in anticipation of Trump’s return to the White House. His idea of initiating strategic BTC reserves and rotating from gold to BTC provides a strong bullish view that could keep BTC prices supported.
