QCP Capital’s latest analysis shows limited upside for Bitcoin prices in the short term. Trading activity indicates a large volume of Bitcoin call options expiring next month being sold off.
Authored by QCP Capital, a cryptocurrency trading company, they say:
Furthermore, the price of Bitcoin (BTC) may remain range-bound over the next two months, with a potential bullish trend beginning in October 2024. Experts anticipate a significant reversal of bearish sentiment by the end of the year due to aggressive buying of bullish options from September to December.
This pattern suggests a period of consolidation over the summer, followed by significant market activity around the US election. Read more: 
Jack Dorsey suggests Bitcoin could replace the dollar. The report also notes that miners are facing significant pressure to sell off some assets due to the sustained high post-halving mining prices. This pressure is expected to continue, potentially slowing down the recovery of Bitcoin prices.
Additionally, over the past week, the Bitcoin ETF market has continued to experience selling, with outflows exceeding $50 billion. 