QCP Capital: The US election may become a key variable for the cryptocurrency market

ChainCatcher message, QCP Capital's latest report indicates that momentum traders are re-leveraging and the scale of corporate buybacks is driving the stock market up. This risk appetite trend may extend to the cryptocurrency market, potentially pushing Bitcoin prices upward.

The U.S. election has become the market focus, with the Bitcoin options market showing a pre-election bearish sentiment, and the volatility spread before and after the election reaching 6 percentage points. The Republican Party has expressed support for ending regulatory measures on cryptocurrencies, while the Democratic Party's stance is relatively conservative. Given the potential market volatility and election risks, QCP Capital advises investors to adopt a defensive strategy in the third quarter, focusing on high returns with limited downside risk.