BlockBeats news, on September 10, QCP Capital's latest report pointed out that macro uncertainty dominates the crypto market. Before the US presidential debate, BTC's 30-day correlation with the MSCI World Stock Index reached 0.6, close to a two-year high. A large amount of buying was observed in the options market on September 11, with 400 contracts at an exercise price of 57.5k. The options market expects that the Bitcoin spot price will fluctuate by more than 3.3% when it expires after the debate, and the current spot price is 56.8k.
The market will pay close attention to Kamala Harris's policy signals in her first debate, especially in contrast to Trump's clear support for lower corporate taxes and higher tariffs (which are seen as inflationary factors). Although Bitcoin is often seen as a "Trump deal" because he explicitly supports cryptocurrencies, we believe that if Harris makes positive remarks on cryptocurrencies during the campaign, it may bring real surprises.
As Bitcoin spot ETF flows turn to inflows after 8 days of outflows, reaffirming a structural bullish stance for Q4. Prefer to earn steady returns at current spot levels while gaining upside convexity exposure.
