BTC has been trading heavy this past week.

On Thursday 18 November, with BTC trading just above 60,000, a ‘sharp hedge fund’ bought a huge chunk of BTC and ETH calls (bullish).

The desk took down about 1,000x of BTC and about 25,000x ETH of December calls. …

Since our last update on 10 November, BTC went from a 69,000 high to a 58,638 low today (-15%) and ETH has gone from a 4,868 high to a 4,108 low today (-15.6%).

A series of negative factors could be the reason for this sell-off. Here’s a quick timeline.


All-time highs all around this week with BTC and ETH trading to 69,000 and 4,868 respectively, taking total crypto market capitalisation above $3 trillion.

The bullishness has not been exclusive to crypto with major equity indices also trading at record highs this week; S&P500 at 4701, Russell at 2442, NASDAQ…

BTC took a backseat this week with ETH and the major Altcoins leading the broad rally, making new all-time highs.

ETH printed a 4,671 high yesterday on the strong momentum we expected from observing ETH risk reversals two weeks ago. Naturally ETHBTC cross has outperformed.

[QCP 22 Oct update: “ETH…

As expected, BTC is taking a breather after being stretched at new highs (67,000). ETH tested the previous high (4,385) and has come back off as well. BTC has broken below 60,000 and ETH has broken below 4,000.

Despite this quick dip from the highs, the market feels relatively calm…

BTC has been trading in a 53,500–58,000 range since the big run-up last week. It’s also been noticeably outperforming ETH and most altcoins.

Chart 1

In spite of the numerous liquidation-driven dips, the 54,000 TD Support Trend level has held very well (Chart 1). …

QCP Capital

Digital Asset Trading Firm |

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