QCP Capital: Bitcoin is expected to fluctuate between $61,000 and $71,000 in the short term, boosting market confidence in a year-end rebound.

DeepTechFlow News, on July 19th, QCP Capital released an analysis report pointing out that despite the continuous release of supply from Mt. Gox and the stock market downturn, the price trend of $BTC this week remained strong. The perpetual contract funding rate has returned to stability, volatility has decreased, and $BTC has returned to the familiar range of 61 to 71 thousand US dollars, which is also the main range of its trading in the second quarter of this year.

The report indicates that although the spot price may remain in this range in the short term, especially with traders holding positions at the 67 thousand US dollars strike price on July 26th, the market is hopeful for a breakthrough before the U.S. election. Even if the spot price drops overnight, QCP Capital still sees a lot of institutional interest in the 100 thousand US dollars call options for December, indicating increased market confidence in the year-end rebound.