According to TechFlow, the latest report from QCP Capital pointed out that the macro environment has improved, and the crypto market has failed to fall further under huge selling pressure, indicating that the market has bottomed out. The reasons why QCP maintains its bullish outlook include: weak labor data, Powell reiterated that market conditions are good; German police sold 6,000 bitcoins, and the shadow of Mt Gox's release is still there, but BTC formed a double bottom and did not fall below $54,000; the upcoming CPI data may consolidate the Fed's expectations of rate cuts; the S-1 of the ETH spot ETF has been revised frequently, and trading may begin.
QCP prefers strategies that offer convex returns, and ETH Sharkfins and OTM ERKOs are particularly attractive, especially as an ETH ETF may be about to be launched.
