QCP Capital: Bitcoin Will Hit Record Levels in March

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According to a report from QCP Capital, the current surge in call options with strike prices ranging from $60,000 to $80,000 and the intense demand for ETFs could potentially push Bitcoin to reach its ATH (all-time high) in March.

The report emphasized that market participants had already spent approximately $10 million on premiums just this week alone.

The report also noted that the largest open interest volume for upcoming expirations is located in calls with a strike price of $60,000, which is set to expire at the end of March. This number, according to Deribit, is equivalent to 1,273 contracts, which is approximately $67 million.

Explaining the current dynamics of the options market and the recent surge above $50,000, QCP Capital attributed it to the increasing demand for spot ETFs.

The experts also predicted that this trend will continue as more global liquidity flows into cryptocurrency instruments.