QCP Capital: Price volatility has been smaller over the past week, but bullish sentiment on BTC has increased
PANews reported on April 6 that QCP Capital, headquartered in Singapore, said that the Perp-June Basis of BTC and ETH has experienced unusually large sell-offs in the past two days, causing the entire forward curve to compress to 15-17%. They suspect the flow could be related to Ethena or could be large investors squeezing out high forward returns while reducing leveraged positions.
In addition, despite the smaller price fluctuations in the past week, QCP Capital said it still found that bullish sentiment on BTC has increased. The main reasons include increased inflows of BTC spot ETF funds, positive news such as traditional financial institutions joining Blackrock’s ETF, large purchases of BTC call options, BTC Leverage reduction and the upcoming BTC halving event.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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