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QCP Options Vol-cast
QCP Capital

BTC has broken above the 50k level again after more than 2 years. This has been on the back of impressive inflows from the BTC spot ETFs of about $500-650m a day, which works out to 10-13k BTC bought daily.

We expect these inflows to continue as global liquidity rotates into the spot ETFs. With the likes of Fidelity announcing a 1-3% cryptocurrency allocation in their All-in-One conservative ETF, the crypto asset class is now front and center for mainstream investors.

In addition to these spot inflows, there has been massive BTC call option buying. This week alone, we saw close to $10 mil USD spent on premiums for 60-80k strikes expiring from Apr to Dec.

On the back of these flows, BTC can easily break all-time highs by the end of...