QCP Capital, in its latest market update, described how selling pressure that weighed heavily on digital assets in September appears to have been absorbed.
Despite sizable ETF outflows last Friday, Bitcoin managed to steady above $112,000 and Ethereum held near $4,100 through the weekend. Analysts believe this resilience hints that the worst of quarter‑end positioning may already be behind the market.
September itself ended in the green for Bitcoin, closing more than 3% higher, which QCP points to as a subtle but important signal of underlying strength. For the momentum to truly flip bullish, the firm argues that BTC must clear the $115,000 level – a breakout that would mark confirmation of the seasonal rally investors have come to expect each October.
Derivatives data reinforces the shift in tone. QCP noted that open interest across Bitcoin and Ethereum options has begun stabilizing, bearish bets are receding, and traders are cautiously re‑entering long positions.
While far from euphoric, the sentiment shift suggests optimism is creeping back into institutional strategies.
For now, the market sits in a transitional phase: bruised by September’s sell‑offs but beginning to show the resilience needed to fuel another leg higher. If ETF inflows stabilize this week, QCP believes the spark for October’s rally may already be in place.
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