According to ChainCatcher, QCP Capital's latest report pointed out that momentum traders' leverage and corporate buybacks have driven the stock market up. This trend may extend to the cryptocurrency market and is expected to drive up Bitcoin prices.

The US election has become the focus of the market. The Bitcoin options market is bearish before the election, and the volatility spread before and after the election is 6 percentage points. The Republicans support ending the regulation of cryptocurrencies, while the Democrats are conservative.

Given the potential market volatility and election risks, QCP Capital recommends that investors adopt a defensive strategy in the third quarter, oriented towards high yield and limited downside risk.