According to TechFlow, on July 19, QCP Capital released an analysis report pointing out that despite the backdrop of continued supply release from Mt. Gox and falling stock markets, BTC prices have remained strong this week. The perpetual contract funding rate has returned to a stable level, volatility has declined, and BTC has returned to the familiar range of $61,000 to $71,000, which is also the main range of its trading in the second quarter of this year.

The report noted that while spot prices may remain in this range in the short term, especially as traders have long positions at the July 26 $67k strike price, the market is looking forward to a breakthrough before the US election. Even though spot prices fell overnight, QCP Capital still saw a large amount of institutional interest in the December $100k call option, indicating that the market is more confident about the year-end rebound.