QCP Group: BTC Holds $80K Support, a Break Above $87K Could Push Toward $94K

Odaily — QCP Group stated in its latest market report that despite market disruptions from news of the U.S. government moving a large amount of BTC and a hack on Ledger, Bitcoin has maintained a range-bound trajectory, repeatedly failing to break through $87,000, though support at $80,000 remains relatively solid. If it effectively breaks above $87,000, the next target could point to $94,000.

In the options market, Bitcoin's implied volatility remains elevated, while put option premiums have narrowed, indicating that the market prefers to wait for a directional breakout rather than adding defensive positions. Currently, long call butterfly options expiring on October 30 with strike prices of $90,000, $95,000, and $100,000 have become the main concentration of month-end positions.

Additionally, this week's U.S. CPI and PPI data, as well as Fed Chairman Warsh's speech at the IMF and World Bank annual meetings, will be key market focuses. The report noted that the market is currently pricing in about a 17% probability of an October rate hike, and related macroeconomic data and policy signals could influence BTC's subsequent trajectory.