QCP: Mainstream CEX funding rates have improved, and the market may further rise
According to BlockBeats, on September 23rd, QCP released a daily opinion stating that Harris' victory in this election may not be as bearish as the market believes. In order to win the votes of cryptocurrency users, Harris promised to help the cryptocurrency industry develop at a fundraising event last weekend. This is another move after Anthony Scaramucci and other cryptocurrency supporters formulated cryptocurrency policies for her campaign. Harris' clear shift towards cryptocurrency, coupled with favorable macroeconomic factors, has set a good start for the cryptocurrency market this week, triggering nearly $60 million in short selling. Last week QCP mentioned that Bitcoin may rise 13.8% from its low of $57500. Since last Monday, Bitcoin has rebounded by nearly 12% and seems to have further upward momentum. The front-end put option bias that can be seen in the past month has begun to normalize, as more high end buyers and low end sellers entered the market over the weekend. Even the funding rates of major trading platforms are improving, and basis yields have become relatively more attractive in the face of declining interest rates.