QCP: The funding rates of mainstream CEX have improved, and the market may rise further

ChainCatcher message, QCP released its daily outlook stating that Harris winning this election may not be as bearish as the market thinks. To win the votes of cryptocurrency users, Harris promised at a fundraising event last weekend to help the cryptocurrency industry develop.

This is another move following Anthony Scaramucci and other cryptocurrency supporters formulating crypto policies for her campaign. Harris's apparent shift towards a pro-crypto stance, combined with favorable macroeconomic factors, has set a positive tone for the crypto market this week, triggering nearly $60 million in short liquidations.

Last week, QCP mentioned that Bitcoin could rise 13.8% from a low of $57,500. Since last Monday, Bitcoin has rebounded nearly 12% and still seems to have further upward momentum. The front-end put skew that has been visible over the past month is starting to normalize, as more high-position buyers and low-position sellers enter the market over the weekend. Even the funding rates on major trading platforms are improving, and the basis yield has become relatively more attractive as interest rates decline.