QCP Capital: Altcoins may face deleveraging risks, while Bitcoin has strong price support under the "Trump market."

2024-11-15 11:06:44

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ChainCatcher news, QCP Capital stated in an official channel that given the strong upward trend of Bitcoin since the U.S. elections, it believes that a target price of $100,000 to $120,000 may not be far off. As the market prepares for the next rally, it is important to note the following trends and risk factors:

Due to many large participants preparing for it and selling call options during the rally, implied volatility has been declining. With each new high, trading desks have observed the market selling call options and buying put options to hedge against downside risks.
The market remains highly leveraged, especially in altcoins, where significant leverage has pushed the perpetual funding rate (1 year) up to 50-100%. Therefore, the risk of deleveraging could be quite substantial, particularly for altcoins.

QCP Capital believes that the potential strength of BTC represents a systemic shift in the market in anticipation of Trump's return to the White House. The idea of initiating strategic BTC reserves and rotating from gold to BTC provides a strong bullish perspective that could support BTC prices.

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