QCP Capital: BTC's current rise not driven by a large amount of institutional funds, no whale concentration selling phenomenon

QCP Capital stated on social media that Bitcoin continued its record-breaking rise, breaking $125,000 during the illiquid weekend period, with this rise not relying on a large amount of institutional funds. This surge indicates strong non-institutional demand for Bitcoin even at high levels. Unlike the previous two breakthroughs at $123,000, the market did not see the traditional phenomenon of large wallets selling off in concentration the next day. This may indicate that large holders have completed asset rotation or are holding coins waiting for a rise in October. Currently, the perpetual contract funding rates on major trading platforms remain high: Deribit at 35%, Hyperliquid at 29%, indicating an aggressive market layout. However, the current price difference continues to widen, increasing the risk of a sharp decline - as seen two weeks ago when nearly $3 billion in long positions were liquidated, creating an excellent entry opportunity for institutions.

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