QCP Capital analysis pointed out that it saw a large amount of BTC put option selling, which showed that the "fear" of BTC has dissipated and investors were happy to buy on dips; it saw buying interest in long-term September and December BTC call options, targeting 100,000-150,000; ETH is even more worrying because perpetual funds have turned negative and the risk reversal continues to show a downward bias. $ETH $BTC