According to TechFlow, QCP Capital's latest report pointed out that after the German government transferred about $900 million of Bitcoin to the trading platform, the price of Bitcoin fell to $55,200 during early trading in the United States on Monday. The market was initially frightened, but quickly rebounded, showing signs of a bull market:
1. The trading platform later returned $200 million worth of Bitcoin to German police, indicating that the assets did not enter the market. 2. Rapid dip buying shows strong demand, with exchange-traded funds (ETFs) inflows of $295 million on July 8, the highest level in 21 days. 3. Despite the lack of liquidity, Bitcoin and Ethereum have set higher lows this week, and dip buying has been very active.
QCP Capital pointed out that the market reacted strongly to supply movements, indicating speculative selling pressure rather than actual spot demand, which may indicate that the market is overly bearish. The Ethereum spot ETF is expected to start trading around July 15. If it can get a positive response, it may increase liquidity and bring an upward market breakthrough. It is recommended to deploy out-of-the-money call options (OTM ERKOs) to achieve a breakthrough with minimal cash expenditure and zero downside risk.