QCP Capital said in a statement that the market was calm, Bitcoin had reached equilibrium again, trading in the range of 60,000 to 70,000, while Ethereum was awaiting the next stage of approval for the spot ETF.
The market was slightly indifferent to the confirmation that the Mt.Gox wallet transferred Bitcoin for compensation distribution (perhaps it happened too quickly). The only thing that could break this calm state was the continued high spot-forward basis and perpetual contract funding rate, which indicated that there were still strong positions, so there might be downside risks.
QCP Capital continues to favor long-term Ethereum bullish trades and strategies that maximize the spot-forward basis.
It is reported that the spot-forward basis is a financial term used to describe the price difference between the spot market and the forward market (or futures market) for a particular commodity.