QCP Capital: The market sentiment is strongly bullish, but an explosive rise is not expected in the short term

ChainCatcher news, QCP Capital's latest report points out that after the Jackson Hole meeting, there has been a significant amount of bullish call spread buying in the market, along with a large number of call options sold with a strike price of $100,000 expiring in March 2025. This phenomenon may indicate strong bullish sentiment in the market, but does not expect explosive growth in the short term.

Despite the rise in spot prices, the volatility of BTC and ETH remains more bearish than bullish before October, which contrasts with the general optimism. QCP analysis suggests that this may mean the market is well-prepared for this rise and is quickly profiting by selling call options.

As recent volatility gradually decreases, QCP expects Bitcoin to oscillate in the range of $62,000 to $67,000 in the short term. Based on the current market trend, QCP advises investors to consider positioning for a bullish strategy in the fourth quarter.