QCP Capital: Altcoins May Face Deleveraging Risk, Bitcoin Shows Strong Price Support During "Trump Pump"

BlockBeats News, November 15th, QCP Capital posted on its official channel, stating that given Bitcoin's strong upward trend since the US election, it believes that the target price of $100,000 to $120,000 may not be far off. As the market prepares for the next leg up, it is important to note the following trends and risk factors:

· Due to many large participants preparing for it and selling call options on the way up, implied volatility has been declining. With each new high, the market has been seen selling call options and buying put options to hedge downside risk.

· The market remains highly leveraged, especially in altcoins, where heavy leveraged positions have pushed the perpetual funding rate (1-year) to 50-100%. Therefore, the deleveraging risk, especially for altcoins, may be significant.

QCP Capital believes that BTC's potential strength represents a market-wide shift in anticipation of Trump's return to the White House. Their initiation of a strategic BTC reserve and the idea of rotating from gold to BTC provide a strong bullish case that can maintain support for the BTC price.