TechFlow reported on December 9 that QCP Capital's latest analysis indicates $4,000 and $100,000 are key price levels for ETH and BTC respectively. According to options market data, the largest open interest is observed in contracts expiring on December 27, with 90,000 contracts at the ETH $4,000 strike price and 16,000 contracts at the BTC $100,000 strike.
Specific figures show traders are taking profits on BTC call options with a $100,000 strike price expiring December 27, potentially shifting toward March-expiry options with strike prices between $130,000 and $150,000. Meanwhile, perpetual contract funding rates on Deribit remain stable, while funding rates across major exchanges are slightly above normal—still suggesting limited likelihood of a sharp price surge.
Historically, ETH tends to reach its all-time high in January of the year following Bitcoin's halving event. ETH risk reversal indicators suggest bullish sentiment will begin strengthening noticeably from January next year. Although QCP maintains a structurally bullish outlook, spot prices may remain range-bound during the remainder of the holiday season.
