QCP: Mainstream CEX funding rates improved, market could rise further

Mr. Harris, who pledged to help the cryptocurrency industry grow at a fundraising event over the weekend in a bid to win the votes of cryptocurrency users, may not be as bearish as the market thinks, according to a daily opinion published by QCP.
This follows Anthony Scaramucci and other crypto proponents in crafting crypto policy for her campaign. Harris's apparent pro-crypto shift, combined with macroeconomic tailwinds, gave crypto markets a good start this week, triggering a near-$ 60 million short position.
Last week, QCP mentioned that Bitcoin could rise 13.8% from its low of $57,500. Bitcoin has rallied nearly 12% since last Monday and looks set to rise further.
The front-end put skew that can be seen over the past month is starting to normalize, as more high-end buyers and low-end sellers enter the market over the weekend. Even funding rates on major trading platforms are improving, with basis yields becoming relatively more attractive in the face of falling interest rates.