PANews reported on November 15 that Singapore-based crypto investment firm QCP Capital said in a statement: “Given Bitcoin’s strong rally since the U.S. election, we believe that the target price of $100,000 to $120,000 may not be too far away.
As we prepare for the next wave of gains, the following trends and risk factors are worth paying attention to: 1. Implied volatility has declined during the rise as many big players have prepared for this rise and sold call options. Our team has observed that with each new high, the market is selling call options and buying put options to hedge downside risks. 2. The market still maintains extremely high leverage levels, especially in the altcoin market. High leverage buying has pushed perpetual contract funding rates up to 50% to 100%, especially in the altcoin market, and the risk of deleveraging may be quite significant.
We believe Bitcoin’s fundamentals are strong and reflect a systemic shift in the market in preparation for Trump’s return to the White House. His ideas of building a strategic Bitcoin reserve and shifting from gold to Bitcoin provide a strong supportive narrative for Bitcoin prices.”
