QCP Capital: Bitcoin to Fluctuate Between $61,000 and $71,000 in the Short Term

QCP Capital has released an analysis that suggests bitcoin will fluctuate between $61,000 and $71,000 in the near term, especially with dealers holding a large number of options at the July 26 $67,000 strike price, as the market is clearly betting on a breakout ahead of the U.S. elections. Even though spot prices fell overnight, QCP Capital still saw significant institutional interest in the December $100,000 calls. This suggests greater confidence in a year-end rally in the market as the odds of a Trump victory increase.