A new analysis report released by QCP Capital pointed out that Bitcoin will fluctuate between $61,000 and $71,000 in the short term, especially with a large number of options held at a strike price of $67,000 on July 26, indicating that the market is betting on a breakthrough before the US election.
Although the spot price fell overnight, QCP Capital still observed a large number of institutions' strong interest in December $100,000 call options. This reflects that as Trump's chances of winning the election increase, the market is more confident that Bitcoin will rebound at the end of the year.
This means that even in short-term fluctuations, institutional investors are still optimistic about the long-term trend of Bitcoin, especially driven by major events such as the US election, and are expected to usher in a greater market breakthrough at the end of the year.
