QCP Capital: The market stabilized this week, and large hedge funds actively increased their BTC upside exposure

QCP Capital said in its latest market analysis that the market has regained some stability this week, with BTC and ETH rebounding to the critical $58,000 and $3,100. The reasons for this rebound include: 1. Macro market sentiment is positive as inflation slows. The market currently expects a 95% chance of a rate cut in September; 2. The German government's 50,000 BTC sell-off is complete; 3. Spot ETF demand is strong, with net inflows of about $1 billion this week. In addition, while cryptocurrency social media and retail sentiment have been in a state of panic, large hedge funds have been actively increasing BTC upside exposure, especially December and March call options, targeting a price level of $100,000-120,000.