Article by

Picture of Elisha
Elisha

Other Topics

Market Insights

Asia Colour

Published September 30, 2024
1 mins read

Article by Elisha

As Q3 concludes, both equities and Bitcoin have outperformed their expectations, defying their usual September downturn:

– The S&P 500 is up 5.1% for the quarter, marking its best year-to-date performance since 1997.

– Bitcoin has surged over 7% this month, on track for one of its strongest September performance on record.

– Global risk-on sentiment remains strong as we enter Uptober, with China’s CSI 300 Index jumping by 9% today after introducing its largest property support package in years. Goldman Sachs’ prime brokerage desk shows hedge funds positioning with three times as many bets on rising IT stocks compared to falling ones.

Crypto Market Outlook

This equity-led rally may be tested when Q3 earnings kick off in mid-October as traders reassess the current lofty valuations. We expect Bitcoin to benefit from any equity retracement due to its nature as a risk-on asset amidst global monetary easing.

Trade Idea

BTC may continue to trade within its current range, as historically, significant profit-taking transactions have occurred at these levels. However, we maintain a positive medium-term outlook. A breakout above 70k could trigger further upside momentum.

Weekly Range Accrual + Topside Convexity

  • Receive weekly 5% p.a. coupon if fixes between 62k & 70k 
  • If spot breaks above range and fixes just below 76k at expiry, you get an additional payout up to 35.3% p.a.

Range Accrual Component

  • Maturity: 27DEC24
  • Coupon Frequency: Weekly from 11OCT24
  • Coupon Rate: 5% p.a. in USD if BTC/USD fixes at-or-within Coupon Range, 0% pa otherwise
  • Coupon Range: 62,000 to 70,000 BTC/USD

ERKO Component

  • Maturity: 27DEC24
  • Strike: 70,000 BTC/USD
  • Barrier: 76,000 BTC/USD
  • Max Potential Payout: 35.3% p.a.

Spot Ref: 63,300

Latest Articles

Asia Colour -

10 Oct 24

Yesterday’s Fed meeting minutes revealed a less dovish tone, bringing the Fed’s implied victory over inflation under question. Combined with last Friday’s strong payroll data,

October 10, 2024
1 mins read

Asia Colour -

09 Oct 24

Chinese stocks continue to move lower today after yesterday’s disappointing press conference from state planners. The China A50 Index is down another 7% today and

October 9, 2024
1 mins read

Press Release: QCP Integrates USYC (Hashnote) as Collateral for Digital Asset Strategies -

09 Oct 24

QCP adopts USYC as collateral across its investment strategies, enhancing flexibility and security for clients. Singapore, 9 October 2024 – QCP, a leading wealth partner

October 9, 2024
3 mins read

Asia Colour -

08 Oct 24

The rally in Chinese stocks fizzled following their week-long holiday as a government briefing failed to introduce new economic stimulus. The MSCI APAC equity index

October 8, 2024
1 mins read

Asia Colour -

07 Oct 24

After a shaky start, Uptober seems to be back on track. BTC is as at similar levels to where it started last Monday. The Uptober

October 7, 2024
1 mins read

Weekend Brief -

06 Oct 24

The new quarter kickstarted with some volatility in risk assets due to the escalation of the Israeli-Iranian conflict. Given the timing (one-year anniversary since the

October 6, 2024
1 mins read

Exclusive insights tailored specifically for you.

Follow us to receive the latest developments in crypto derivatives.

Disclaimer

This information contained in this website is intended as a general introduction to QCP Capital and its activities as a Digital Payment Token (DPT) service provider and is for informational purposes only.

 

QCP Capital is not acting and does not purport to act in any way as an advisor or in a fiduciary capacity vis-a-vis any counterparty. Therefore, it is strongly suggested that any prospective counterparty obtain independent advice in relation to any trading investment, financial, legal, tax, accounting or regulatory issues discussed herein. This website is only directed at informed and qualified investors. Your entry to this website attests that you are fully aware that trading of DPTs is not suitable for the general public and that you are an informed and qualified investor, and are also fully cognisant of all technological and financial risk(s) associated with trading Digital Payment Tokens.

 

In the event you intend to onboard with QCP Capital to trade in DPTs, by onboarding with us you acknowledge that you are aware of any rules and/or regulations applicable to the provision of DPT and/or financial services, the high degree of risk involved and that in no event will QCP Capital or any if its directors or employees be liable for any injury loss, claim or damage (whether direct, indirect, consequential or incidental) arising either directly or indirectly out of, or in any way connected with, the site, or its use.

 

If you are located, incorporated, or otherwise established in, or a citizen or resident of certain jurisdictions, QCP Capital may be unable to, or otherwise reserve its right to refuse to engage in or establish a trading relationship with you. Please contact us if you believe you have received this notice in error. QCP Capital is not registered or licensed to operate in the states of Louisiana and New York and will not be able to establish a trading relationship with you if you are resident, incorporated or have your principal place of business in New York or Louisiana.

 

You also acknowledge that you understand that trading in payment token derivatives (“PTD”) are also not any less risky than trading in DPTs. PTD services are not regulated by the MAS and QCP Capital is as such not licensed under the MAS to provide PTD services. You should only trade in PTDs if you are an Accredited Investor and/or have sufficient experience and knowledge in trading PTDs.

 

Risk Warning on Digital Payment Digital Services
The Monetary Authority of Singapore (MAS) requires us to provide this risk warning to you as a customer of a digital payment token (DPT) service provider.

 

Before you pay your DPT service provider any money or DPT, you should be aware of the following.

 

Your DPT service provider is an exempt payment services provider pending licensing under the Payment Services Act (2019) to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.

 

You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.

 

You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.

 

You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.