QCP Unveils the two most profitable cryptocurrency trading strategies amid Bitcoin price surge
Bitcoin’s price has soared to $65,000, an impressive 7.54% increase within just 24 hours after the release of the CPI data. This surge has caught the attention of QCP, a prominent trading firm, which now predicts that Bitcoin will climb even higher to $74,000. This forecast indicates strong institutional support for Bitcoin in these changing times.
In a recent message on Telegram, QCP emphasized how the recent U.S. Consumer Price Index (CPI) numbers have propelled Bitcoin and other risk assets above the $66,000 mark. This upward momentum has been accompanied by a surge in buying activity, particularly in BTC call options set for December 2024, totaling a substantial 100,000-120,000 BTC. This significant investment reflects a high level of confidence in Bitcoin’s potential for further growth.
Additionally, major asset managers like Millenium and Schonfeld have allocated 3% and 2% of their Assets Under Management (AUM) to Bitcoin spot ETFs, further enhancing Bitcoin’s credibility as a recognized asset class in institutional circles.
QCP attributes this bullish breakout to several factors, including strong support from governments and institutions, easing inflation, and the upcoming U.S. elections. These combined factors suggest a potential return to the bull market for Bitcoin.
Taking advantage of this expected upward trend, QCP has introduced strategic ways to benefit from it. They have presented two “Seagull strategies” that offer attractive propositions for traders.
The first strategy, called the June Seagull strategy, expires on June 27, 2024. It involves selling a 60k Put and purchasing a 70k Call with an 88k Knock-out level at no cost. If Bitcoin’s price approaches but doesn’t exceed $88,000 by expiration, the maximum payout is $18,000 per BTC or 249% annually. However, there is a potential risk that the invested USD will convert to BTC at $60,000 if Bitcoin falls below that price.
Similarly, the second strategy, known as the August Seagull strategy, expires on August 30, 2024. It requires selling a 58k Put and acquiring a 70k Call with a 100k Knock-out level, again at no cost. Traders could potentially gain $30,000 per BTC or 176% annually if Bitcoin comes close but falls short of $100,000 at expiry. However, breaking below $58,000 could result in the conversion of invested funds into Bitcoin at the lower price.
QCP’s Seagull strategies offer an appealing opportunity, providing significant payouts if Bitcoin continues its upward trajectory while effectively managing risk.
Are you considering using options strategies like the seagull? Let us know your thoughts!