Wu Blockchain has learned that QCP Capital stated BTC has rebounded from around $63,500 last week to approximately $80,000. Over the past eight trading days, spot ETFs have seen cumulative inflows of about $2.8 billion. Meanwhile, BTC-denominated futures open interest has dropped from around 646,000 contracts in mid-August to approximately 588,000 contracts, with funding rates remaining moderate. QCP believes this rally is more driven by spot demand and short covering rather than new leveraged long positions chasing the price. BTC is currently approaching the $81,000–$86,000 range, and it remains to be seen whether the upward momentum will continue to be supported by spot inflows. On the macro front, QCP notes that tonight’s speech by Fed Chair Warsh at Jackson Hole will be key in shaping market expectations around inflation, financial conditions, and long-term interest rates. https://(wublock123.com)/news/qcp-btc-rises-to-80k-futures-leverage-falls-spot-driven-rally-67389