Crypto Gloom

QCP Capital: Bitcoin’s October rally depends on institutional participation and macroscopic conditions.

simply

Bitcoin is trading between price discovery and previous highs, and the continuation of the October rally is likely to depend on the participation of new institutions and extensive macroeconomic conditions.

QCP Capital: Bitcoin's October rally depends on institutional participation and macroscopic conditions.

Digital asset firm QCP Capital, headquartered in Singapore, announced that Bitcoin has extended its record performance despite the weekend liquidity and limited institutional support, and exceeds $ 125,000 on Sunday.

Due to the inflow of the Exchange-Traded Fund during the pause during the weekend, price movement emphasized strong non-institutional demands. Contrary to the previous attempt to destroy the previous $ 123,000, there was no significant next -generation sale in a large legacy wallet, which indicates that the main holder has completed the asset rotation or maintains a position ahead of the potential brake out in October.

BTC’s permanent funding rate is 35%in Debibit and 29%for theater, and the amount of exercise is increasing as the leverage trader continues to participate while signing aggressive positioning. However, the extended leverage increases the risk of sudden liquidation as it has been demonstrated two weeks before the long position of a $ 3 billion long position disappears, creating an institutional entry opportunity. In the option market, traders who lack at the end of October have a higher price of $ 126,000 to $ 128,000, and the market trust in continuous exercise is increasing.

QCP Capital pointed out that last week, the 12% surge in BTC seems to be exaggerated by some people because of the lack of a major catalyst, but some factors support the rally. Gold’s recent achievements, especially since the US government’s closure of the US government, has strengthened the appeal of Bitcoin with safety assets. Historically, this event may have contributed to the upward movement with the seasonal seasonality. In addition, the BTC reserve for the exchange of central response has fallen to the lowest level of six years and has strengthened the lack of stories and support.

Bitcoin has a record high with the inflow of $ 3.2B ETF due to institutional participation and macroscopic factors that are expected to form a rally in October.

Analysts stated that Bitcoin is trading in the range between the current price discovery and the previous highs, and the larger synergy is likely to depend on the participation of new institutions. Last week, $ 3.2 billion in the inflow of SPOT ETFs (the second largest share per week) will monitor market participants whether this momentum continues. Ultimately, the trajectory of Bitcoin’s October rally will be formed as a combination of institutional flow and extensive macroeconomic conditions.

According to COINMARKETCAP, Bitcoin is trading at $ 124,495 at the time of report and increased 0.96% over the last 24 hours. During this period, cryptocurrency reached $ 122,573 and $ 124,870.

The total market capitalization of the total cryptocurrency was $ 4.27 trillion, up 1.29% from the last day. In the last 24 hours, all cryptocurrency volume has been reduced by 10.90% to $ 169 billion. Bitcoin’s market dominance is currently 58.28%, slightly decreased by 0.04% over the same period.

disclaimer

The trust project guidelines are not intended and should not be interpreted as advice in law, tax, investment, finance or other forms. If you have any doubt, it is important to invest in what you can lose and seek independent financial advice. For more information, please refer to the Terms and Conditions and the Help and Support Pages provided by the publisher or advertiser. Metaversepost is doing its best to accurately and unbiased reports, but market conditions can be changed without notice.

About the author

Alisa, a dedicated reporter for MPOST, specializes in the vast areas of Cryptocurrency, Zero-ehnowedge Proofs, Investments and Web3. She provides a comprehensive coverage that captures a new trend and a keen eye on technology, providing and involving readers in a digital financial environment that constantly evolves.

More

Alisa, a dedicated reporter for MPOST, specializes in the vast areas of Cryptocurrency, Zero-ehnowedge Proofs, Investments and Web3. She provides a comprehensive coverage that captures a new trend and a keen eye on technology, providing and involving readers in a digital financial environment that constantly evolves.

More