QCP Capital: The outcome of the US election this week will determine the direction of the crypto market, and we are still maintaining a cautious attitude at present.

PANews reported on November 4th that Singaporean encryption investment firm QCP Capital stated, "As Polymarket’s odds gradually approach the actual results of the popular vote, the competition between Harris and Trump is becoming increasingly heated. Despite Polymarket still favoring Trump with 55%, a significant decrease from 66% a week ago. The small Fluctuation in prices over the weekend and the reduction of leverage Perptual Futures positions from 30 billion to 26 billion across various exchanges indicate that the market remains cautious. So does this indicate a period of calm before breaking the price range of the past few months and moving towards a new historical high? The Options market seems to think so, as we have seen an increase in long positions since last Friday, with a large number of options purchased with a strike price of $75,000 and an expiration date at the end of November. At the same time, with the actual volatility remaining at 40% and the implied volatility climbing to over 87% on Friday, options positions related to the election date are also increasing. We expect the Spot price to Fluctuation within this range until the election results become clearer this week. If Trump wins, it is likely to immediately trigger a price pump, while if Harris wins, it may trigger a price drop.