QCPCapitalhaspublishedamarketanalysishighlightingthatBitcoinhasrecentlysurgedfrom$62,000to$65,000,witharound$80millionworthofleveragedBTCandETHpositionsbeingliquidated.
WhilesomehaveattributedthepriceincreasetonewsthatMt.GoxhasextendeditsrepaymentperiodtoOctober2025,QCPCapitalnotesthatthisinformationwasalreadymadepubliclastFriday.
Thefirmsuggeststhatwhileavarietyoffactorscouldexplaintherally,thetimingisparticularlyinterestingbecauseitfallsinmid-October,justthreeweeksbeforetheUSpresidentialelection.QCPCapitaldrewparallelswithpastelectioncycles,notingthatinboth2016and2020,Bitcoinsawsignificantpricemovementsthatbeganafullthreeweeksbeforeelections.In2016,BTCdoubledfrom$600byearlyJanuary,whilein2020,itrosefrom$11,000to$42,000overasimilarperiod.
Despitethelessimpressivecurrentmonth,withBitcoinupjust1.2%comparedtoahistoricalaveragegainof21%inOctober,QCPCapitalbelievestherecentrallycouldbeaturningpoint.Thefirmstressesthataftermonthsofrange-boundtrading,today’spriceactioncouldindicatethemarketisprimedforarepeatofpreviouspatterns.
Asspotpricescontinuetorise,QCPCapitalexpectsmarketparticipantstofocusonQ4profittargetsandcloselymonitorwhetherBitcoincangainmomentumaheadoftheelection.
*Thisisnotinvestmentadvice.
en.bitcoinsistemi.com