QCP Capital: Bitcoin may remain volatile at current levels in the short term
According to a report by QCP Capital, Bitcoin continues to surge to a new all-time high. Despite this new high, the volatility has not reacted significantly due to large-scale profits from long-term call options. This means that the market is well-prepared for this upward trend. The financing rate for perpetual contracts is very high and the basis yield has also reached its highest point in 7 months. Although the bullish structure is still maintained, caution is advised for any pullbacks, especially those from margin liquidations. In the past, such sharp increases in basis yield have not lasted too long. In the short term, it is expected that the spot market will fluctuate around these levels and volatility may decrease.
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