QCP: Crypto market stabilizes and recovers, BTC needs to break 115K to confirm upward trend

ChainCatcher reported that the QCP briefing stated that after a significant correction last week, the crypto market has begun to stabilize, with bitcoin and ethereum rebounding to the levels of $112,000 and $4,100 respectively. Despite large-scale ETF redemptions, the market has demonstrated strong resilience.

Optimism has returned to the perpetual contracts market, with leveraged long positions re-entering the market. The open interest in perpetual contracts has risen from $42.8 billion to $43.6 billion, and the BTC perpetual funding rate remains positive. Analysts pointed out that although market conditions support the upcoming "Uptober" rally, bitcoin still needs to break through $115,000 to confirm a new upward trend. The options market shows that traders are gradually rebuilding confidence, and the put skew is gradually returning to normal levels.