TechFlow news, according to the latest report from QCP Capital, macro uncertainty is dominating the crypto market ahead of the U.S. presidential debate. The 30-day correlation between Bitcoin and the MSCI World Equity Index has reached 0.6, near a two-year high. Options markets show active trading for contracts expiring on September 11, with 400 contracts traded at the $57,500 strike price. Markets anticipate that Bitcoin could experience volatility exceeding 3.3% following the debate.
QCP Capital believes markets will closely watch Kamala Harris's policy stance during her first debate appearance, particularly in contrast to Trump's inflationary policies such as lowering corporate taxes and raising tariffs. While Bitcoin is often seen as a "Trump trade," any positive mention of cryptocurrencies by Harris during her campaign could deliver an unexpected upside surprise.
Following a return to positive fund flows in Bitcoin spot ETFs, QCP Capital reaffirms its structurally bullish outlook for the fourth quarter. They recommend securing stable yields at current price levels while maintaining exposure to potential upside.
