According to BlockBeats, on August 12, QCP Capital posted on its official channel that “It has been a week since the sharp correction in the crypto market. Despite the strong price recovery, BTC is still struggling to stay above $60,000.
BTC put skewness has recovered significantly from -25% during the panic to pre-shock levels (-5%), but the market remains cautious in the short term, with BTC put skew continuing into September.
After the first two sharp pullbacks this year (April and June), BTC climbed back above $70,000 in less than a month. As BlackRock (ETF) continues to see positive inflows, we expect U.S. investors to continue to provide liquidity and support.
Macro factors remain key to the crypto market. Although Asian stocks are stable today, there are some events that may cause volatility to watch, including Elon Musk's interview with Trump at 8 pm (EST) tonight and the release of the US Consumer Price Index (CPI) on Wednesday. "
