According to BlockBeats news, on November 11, QCP Capital released a research report stating that “Bitcoin continues to soar to new all-time highs. Despite reaching new highs, volatility has not responded significantly due to large-scale profit-taking in long-term call options. This means that The market is fully prepared for this rise.
The market is undoubtedly in a state of euphoria as Bitcoin breaks through key resistance levels and multi-month range-bound consolidation. The financing interest rate of the perpetual contract is very high, and the basis income has also reached the highest point in seven months. While we remain structurally bullish, we remain cautious on any pullbacks, especially from leveraged liquidations. Historically, such sharp increases in basis returns typically do not last long.
In the short term, we expect the spot market to fluctuate around these levels, with volatility likely to subside, although we still await macro events this week. The key events this time include: US CPI (Wednesday), US PPI (Thursday), and Powell’s speech (Friday), when we will get more clear guidance on the expected December 25 basis point interest rate cut. “
