According to Wu Blockchain, QCP Capital stated that Bitcoin broke out of the consolidation range of $82,500–$85,700 over the past week, briefly reaching $86,913, marking a 14.6% increase from the September 15 low. The annualized funding rate for BTC perpetual contracts is around 5.4%. QCP believes this rally is primarily driven by spot funds rather than leverage. Meanwhile, gold dropped 8.5% in September, while BTC rose approximately 12%. QCP attributes the current trend to a combination of capital inflows, regulatory catalysts, and technical improvements. U.S. spot BTC ETFs saw inflows of about $3.5 billion in August and $2.6 billion in September. In the options market, some clients cumulatively sold over 4,000 call options with a $90,000 strike price expiring on October 30, with a notional value of approximately $346 million, and shifted to buying options with the same strike price expiring on November 27. QCP views $82,500 as the current support level, with $87,400 as the September high and a key resistance level on the path to $90,000. https://www.(wublock123.com)/news/qcp-bitcoin-rally-driven-by-spot-funds-90000-options-level-69426