QCP Capital: It is expected that BTC will oscillate at the current level in the short term, with reduced volatility.

On November 11th, QCP Capital released a research report stating that “BTC continued to soar to a historical high. Despite the new high, the profits from long-term bullish options have been settled on a large scale, and the volatility has not reacted significantly. This means that the market is fully prepared for this pump. With BTC breaking through key resistance levels and several months of range consolidation, the market is undoubtedly in a cheerful state. The financing interest rate of Perpetual Futures is very high, and the basis profit has also reached the highest point in 7 months. Although we still maintain a structural bullish view, we remain cautious of any pullback, especially a pullback from leveraged liquidation. Historically, such a sharp pump in basis profit usually does not last too long. In the short term, we expect the Spot market to fluctuate around these levels, and the volatility may weaken, although we are still waiting for macro events this week. The key events include: US CPI (Wednesday), US PPI (Thursday), and Powell’s speech (Friday), when we will get more clear guidance on the expected 25 basis point rate cut in December.”