QCP Capital anticipates that the highly anticipated debate between Donald Trump and Kamala Harris could significantly impact the cryptocurrency market. Both figures, being among the most polarizing in recent U.S. political history, are expected to influence price action in the days leading up to the debate.
QCP Capital Forecasts Price Fluctuations Ahead of Trump-Harris Debate
In its latest market report, QCP Capital notes that while cryptocurrency prices have stabilized after a recent decline, implied volatility remains high. Market participants are bracing for further price swings before two key events: the Trump-Harris debate on September 10 and the release of the U.S. Consumer Price Index (CPI) on September 11, 2024.
The CPI report will be released just a week before the Federal Reserve decides on the federal funds rate.
QCP Capital, based in Singapore, also highlights the market’s cautious outlook, with risk biases leaning towards put options on Bitcoin (BTC) and Ether (ETH), reflecting concerns about potential downside risks.
Despite the volatility and uncertainty, QCP maintains a “structurally bullish” stance on cryptocurrency assets, citing significant long-term positions being executed. The firm notes, “It certainly appears that the market is also using this dip to accumulate more long-term bullish positions.”
The report also highlights substantial call option purchases for March 2025, with strike prices of $85,000, $100,000, and $120,000 for BTC, indicating continued confidence in the asset’s long-term growth. The firm suggests that market participants are leveraging the recent price decline to build long-term positions, despite short-term noise.
