Bitcoin (BTC) continues to trade within a range, repeatedly attempting to break above $87,000 but failing to hold that level. According to a QCP Group report dated October 12, the area below $80,000 continues to provide fairly strong support.

QCP says BTC remains relatively resilient a year after last October’s record one-day liquidation. Prices have stayed within a range despite market concerns over reports that the U.S. government moved a large amount of BTC and that Ledger was attacked.

In the options market, implied volatility remains elevated, while put premiums have declined somewhat. QCP notes that sentiment currently favors waiting for a breakout from the trading range rather than hedging defensively. If BTC holds above $87,000, the report identifies $94,000 as a possible next target.

QCP noted substantial long positions in a call butterfly options strategy, with strike prices of $90,000, $95,000, and $100,000, expiring on October 30. This is also the largest concentration of positions as the market approaches the end of the month.

The report lists this week’s macroeconomic events, including U.S. CPI on October 14, PPI on October 15, and Fed Chair Warsh’s speech at the annual IMF–World Bank meeting on October 16. The market is pricing in roughly a 17% probability of an interest rate hike in October. QCP believes these data and policy signals could influence BTC’s direction.

Source: https://tintucbitcoin.com/bitcoin-giu-ho-tro-80-000-usd-can-vuot-87-000-usd-de-mo-da-tang/

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