QCP: ETH and BTC may fluctuate during the holidays

QCP Capital analysis points out that the key price points for ETH and BTC are $4,000 and $100,000 respectively, and both briefly broke through these levels last week before retreating. Currently, the options expiring on December 27, 2024 have the highest open interest at the strike prices of $4,000 for ETH and $100,000 for BTC, at 90,000 contracts and 16,000 contracts respectively. Although the rise in spot prices may drive traders to cover their positions, the current funding rates are stable, and the likelihood of significant volatility in the short term is relatively low. QCP believes that the spot market may be dominated by fluctuations during the holiday period, and ETH typically sets new highs in January after the halving. The options market also reflects this sentiment, with the ETH risk reversal structure showing that bullish sentiment is more concentrated after January next year.