Ramazan Eles 
QCP Capital says institutional investors bought 100k and 120k call options for December and March in the face of the sharp declines.
Bitcoin (BTC) fell below $54,000 after the declines it experienced in recent weeks, but this week the price has been more stable.
At this point, Bitcoin has experienced a steady recovery to the $58,000 level, while Ethereum (ETH) has moved towards the $3,100 level.
QCP Capital analysts, who examined the reasons behind this recovery, said that positive US inflation data, inflows into spot ETFs, and the completion of sales by the German government were behind this recovery.
He said that while these declines were taking place and retail investors were panicking, large institutional investors were focusing on the long-term rise rather than short-term declines.
At this point, analysts stated that institutional investors are focusing on expectations of $100,000 and $120,000 in Bitcoin in December and March, respectively, and are aggressively buying call options at these prices.
“Some stability has come to the market this week and BTC and ETH have made a steady recovery towards 58k and 3100.
What caused this relief rally?
Positive macroeconomic sentiment with slowing inflation. The market is currently pricing in a 95% probability for a rate cut in September.
The German government has completed the sale of 50k BTC and the spot BTC price held well in the face of heavy selling over the past week.
Strong demand from spot ETFs with net inflows of around $1 billion this week.
While crypto twitter and retail sentiment are screaming panic, big hedge funds are buying BTC confidently and aggressively from the top, especially December and March calls targeting the 100k-120k price level.”
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