According to TechFlow, on November 15, QCP Capital's latest analysis pointed out that Bitcoin hit a record high of $93,480 during the New York trading session, pushing the global cryptocurrency market value to over $3 trillion, exceeding the peak of $2.77 trillion in 2021. QCP analysis believes that in the strong rebound after the US election, the price of Bitcoin is expected to reach $100,000 to $120,000.
The agency pointed out two key trends: first, large institutional investors have made arrangements in advance and sold call options during the rise, and the implied volatility has subsequently declined; second, the market leverage is too high, especially the altcoin perpetual contract Funding rates have reached 50%-100%, and there is significant deleveraging risk.
QCP believes that the continued strength of Bitcoin prices reflects the market's expectation that Trump may return to the White House. Trump's idea of building a strategic Bitcoin reserve and rotating from gold to Bitcoin provides a strong narrative to support Bitcoin.
