Crypto Options Market Starting to Have Material Impact on Spot Market: QCP Capital

Crypto Options Market Starting to Have Material Impact on Spot Market: QCP Capital
While a correlation between equities and crypto has become more apparent during the last year, Singapore’s QCP wrote that there is a limit to this correlation because of the increasing importance of the crypto options market.As the bitcoin and ether markets followed the bearish sentiment of the equities market as the week began, bitcoin and ether tumbled below $40,000 and $3,000 respectively.QCP wrote that they believe there was a bounce-back because of the number of strikes at the $40,000 mark for bitcoin, and the $3,000 mark for ether, held by whales.The fund noted that there was a counterparty that was…