QCP Capital: Market rebound supports "Uptober," BTC needs to break above $115,000 to confirm the uptrend

BlockBeats News, on September 29, QCP Capital published an article stating that after last week's sell-off, cryptocurrencies are showing signs of recovery. BTC and ETH have rebounded to 112,000 and 4,100 US dollars, respectively. Despite significant capital outflows from ETFs (especially last Friday), spot prices stabilized over the weekend, suggesting that quarter-end basis unwinding or redemptions may be the main reasons, and the market's ability to absorb selling pressure has exceeded expectations. As spot prices rebound, ETF capital flows this week will set the tone for institutional demand ahead of the seasonally bullish months.

After a volatile month, BTC's monthly gain still exceeds 3%, providing support for the so-called "Uptober." However, it should be noted that BTC needs to effectively break through the 115,000 threshold to confirm a new round of upward momentum. The options market reflects this hesitation—as traders rebuild confidence, the put skew and open interest for both BTC and ETH are gradually returning to normal levels.