TechFlow reports, citing a new QCP Capital report indicating that improving macro conditions and the crypto market's resilience despite significant selling pressure suggest the market has bottomed. QCP maintains its bullish outlook due to weak labor data and Powell reaffirming favorable market conditions; German police sold 6,000 BTC while the shadow of Mt Gox releases persists, yet BTC has formed a double bottom without breaking below $54,000; upcoming CPI data may strengthen expectations of Fed rate cuts; frequent S-1 amendments for ETH spot ETFs signal trading could soon begin.
QCP favors strategies offering convex payoffs, with ETH Sharkfins and OTM ERKOs being particularly attractive, especially given the potential imminent launch of ETH ETFs.
