QCP Capital's analysis over the past weekend reveals new records for Bitcoin and market dynamics amid significant selling.
Market During the Holidays
Bitcoin managed to hold its price over the long holiday weekend, hitting a new all-time weekly closing record at $109,700 during low-volume trading on Sunday.
Factors Influencing the Market
Despite the transfer of about $8.5 billion worth of Bitcoin from eight old wallets and the $4.3 billion sold mid-week, the market largely ignored these large 'bearish' transactions. Instead, 'bullish' scenarios found strong buyers. Additionally, rumors about TON's 'Golden Visa' and Elon Musk's criticism of fiat money also influenced the market's rise.
Outlook and Predictions
Despite the active selling, institutional investors are showing interest in September term call options with a strike price of $130,000 and are continuing to maintain $115,000/$140,000 call spread positions. This indicates a structurally optimistic picture for the third quarter of 2025.
According to recent data from QCP Capital, the cryptocurrency market is demonstrating confident trends despite recent selling. Continued attention from institutional investors maintains optimism.
