QCP Capital released a daily report saying that cryptocurrencies rose for the third consecutive day yesterday, with BTC testing $64,000 again and ETH back at $2,500.
The rally was supported by strong inflows into BTC and ETH spot ETFs. Over the past two days, BTC ETFs recorded a net inflow of $250.30 million, while ETH ETFs recorded a net inflow of $8.10 million.
With no major macroeconomic events taking place before this Friday, aside from the upcoming PCE price report, cryptocurrency prices are likely to take a breather here as enthusiasm for rate cuts fades. As of this morning, BTC has fallen below $63,000.
In terms of options, front-end BTC volatility has declined by 6 points since yesterday's peak, and continues to decline as the market adjusts to the path of policy normalization.
QCP Capital: Bitcoin Options Front-End Volatility Drops 6%, Markets May Take a Breath
2024-09-21 07:21:01
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