QCP Capital: Large hedge funds are still betting that BTC will rise to $100,000 by the end of the year

On July 13th, QCP Capital posted on its official channel that the market has regained some stability this week, with BTC and ETH rebounding to critical levels of 58,000 and $3,100, respectively. The reasons for this rebound include:

· Positive macro sentiment, inflation slowing down, and the market currently expecting a 95% chance of interest rate cuts in September.

· The German government has sold all 50,000 BTC.

· Strong demand for spot ETFs, with a net inflow of approximately $1 billion this week.

In terms of volatility, although the cryptocurrency social media and retail sentiment have been screaming panic, large hedge funds have been confident and actively buying BTC, especially bullish options for December and March, with a target price level of $100,000-$120,000.