As articulated by QCP Capital, Bitcoin's value is anticipated to remain between $62,000 and $67,000 shortly.

The trading company based in Singapore has released its most recent market overview. QCP Capital Following the Jackson Hole economic symposium, this firm’s analysis indicated increased activity in purchasing call spread options and significant selling of call options, notably centered around a $100,000 strike price that extends through March 2025. This trend could suggest a broadly positive outlook in the crypto market, but without expecting any immediate sharp upturns.

Interestingly, while spot prices are climbing, QCP Capital has noticed that the implied volatility for Bitcoin (BTC) and Ethereum (ETH) surprisingly favors put options until October, despite the prevailing bullish market vibes. This might mean that traders are anticipating future price hikes and are quick to cash in on their call options.

Moreover, even though we observe a positive trend in prices, the implied volatility signals some level of hesitation in the market. With short-term option volatility diminishing, the analysis suggests Bitcoin's price is likely to hover between $62,000 and $67,000 shortly.

Additionally, NVIDIA This week will also see the release of crucial financial data from Federal Reserve reports and personal consumption expenditure figures in the United States, though no significant surprises are expected from these announcements.

As of now, Bitcoin trades at $63,816, experiencing a minimal decline of 0.13% over the last 24 hours. The cryptocurrency witnessed some volatility, peaking at $64,860 and dipping to $63,571 during this timeframe.

Currently, the price of Bitcoin is viewed favorably, primarily due to recent investments in Bitcoin exchange-traded funds (ETFs). Data from SosoValue indicates that from August 17 to August 23, there were net inflows into spot BTC ETFs that totaled $506.37 million.

On the other hand, Ethereum's price stands at $2,734, reflecting a decrease of 0.86% in the last 24 hours. Over this period, its trading fluctuations ranged from $2,727 to $2,790.

The market capitalization for cryptocurrencies has seen a slight dip of 0.20%, settling at $2.24 trillion today. In addition, the cumulative trading volume across the cryptocurrency landscape has fallen by 7.09% in the last day, now amounting to $53.63 billion, according to CoinMarketCap.

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