TechFlow reported that QCP Capital released a new market analysis indicating Kamala Harris' commitment to supporting the crypto industry during a fundraising event over the weekend may not be as bearish as the market initially feared. With pro-crypto figures like Anthony Scaramucci involved in shaping her campaign's cryptocurrency policies, Harris' shift toward a more crypto-friendly stance—combined with favorable macro conditions—has strengthened the crypto market at the start of this week, triggering nearly $60 million in short liquidations.
Since last Monday, Bitcoin has rebounded nearly 12% from its low of $57,500 and appears poised for further gains. The bearish options skew common over the past month has begun normalizing, with increased trading activity involving buying upside options and selling downside protection over the weekend.
Funding rates across major exchanges are also improving, and basis yields are starting to look more attractive.
