QCP Capital: BTC and ETH may maintain range-bound fluctuations before the end of the year, with ETH's new high possibly in January next year
ChainCatcher news, QCP Capital's latest analysis points out that $4000 and $100,000 are key price levels for ETH and BTC, respectively. From the options market perspective, the contracts expiring on December 27 have the largest open interest, with 90,000 contracts at the $4000 strike price for ETH and 16,000 contracts at the $100,000 strike price for BTC.Specific data shows that traders are taking profits on their $100,000 call options for BTC expiring on December 27 and may shift to options with a $130,000-$150,000 strike price expiring in March. Additionally, the funding rate for Deribit perpetual contracts remains stable, while the funding rates on major exchanges are slightly above normal, but the likelihood of a significant price increase remains low.From historical data, ETH typically reaches a new all-time high in January of the year following Bitcoin's halving. The ETH risk reversal indicator shows that bullish preferences are significantly strengthening starting in January next year. Although QCP maintains a structurally bullish view, it is expected that spot prices may remain in a range-bound oscillation during the remaining holiday season.