Markets see a strong upward positioning of BTC price

Updating subscribers of the Telegram channel, meanwhile, the trading firm QCP Capital saw multiple macroeconomic and geopolitical catalysts fueling the strength of BTC price in the short term and beyond

Among them are the US presidential elections, the popularity of spot Bitcoin ETF funds, and the outperformance of equity markets

Implied volatility for the election expiration has risen to 64 percent and is likely to continue increasing, it was reported that day

Although the buying bias has softened as BTC consolidates above the 70k level, open perpetual interest across exchanges is at an annual maximum, indicating strong positioning for a potential bullish run $BTC $BTC $BTC