QCP Capital: BTC rebounded to approximately $80,000 and spot ETF inflows to $2.8 billion

Wu stated that it had been informed that QCP Capital indicated that the BTC had rebounded from approximately US$ 63,500 last week to about US$ 80,000, and that there had been a cumulative flow of ETF in the last eight trading days of about US$ 2.8 billion. At the same time, the balance of futures at BTC prices decreased from about 646,000 in mid-August to about 588,000, and the funding rate remained moderate. According to QCP, the increase in the current round is driven more by spot demand and headback than by additional leverage. The BTC is currently approaching the $81,000-86,000 range, and it will need to follow up on whether the increase is still supported by off-the-shelf funds. On the macro level, QCP believes that tonight’s statement by Fed Chairman Warsh in Jackson Hole will focus on the market’s expectations of inflation, financial conditions, and long-term interest rates。