QCP Capital reported on September 30, as noted by BlockBeats, that both stocks and Bitcoin performed better than anticipated at the conclusion of the third quarter, defying the typical downturn associated with September. Bitcoin has seen an increase of over 7% this month, making it one of its best performances for September to date. As October approaches, the appetite for risk remains strong, with Goldman Sachs’ prime brokerage revealing that hedge funds are betting three times more on rising technology stocks compared to those expected to decline.

QCP Capital indicates that Bitcoin may experience continued fluctuations within its current trading range, reflecting a historical trend of profit-taking at these levels. Nevertheless, the firm holds a positive view on Bitcoin’s medium-term outlook, suggesting that if it breaks through the $70,000 mark, it could spark further upward movement.