QCP Capital: October may see a seasonal rebound

QCP Capital's latest analysis points out that September is usually a bearish month for cryptocurrencies and other asset classes, but October has historically performed strongly. Data shows that Bitcoin has achieved positive returns in October in 8 of the past 9 years, with an average increase of 22.9%. This seasonal pattern may explain the recent continued bullish buying in the options market, with 150 December call options with an exercise price of $80,000 observed again in early Asian trading. QCP suggests that investors may accumulate Bitcoin during the September pullback and settle profits in October or at the end of the year.