On September 21, QCP Capital released a daily report stating that cryptocurrencies rose for the third consecutive day yesterday, with BTC testing $64,000 again and ETH returning to $2,500.
The rally was supported by strong inflows into BTC and ETH spot ETFs. Over the past two days, BTC ETFs recorded net inflows of $250.3 million, while ETH ETFs saw net inflows of $8.1 million.
With no major macroeconomic events happening before this Friday, aside from the upcoming PCE price report, crypto prices may take a breather here as enthusiasm for rate cuts fades. As of this morning, BTC has fallen below $63,000.
On the options side, front-end BTC volatility is down 6 pips from yesterday’s peak, and continues to decline as the market adjusts to the path of policy normalization.
