Driven by a rebound in macro risk appetite, CANDLE has seen significant increases in capital inflows and trading activity, with bullish sentiment prevailing in the short term. The options market shows a rise in call positions and straddle strategies, suggesting an expansion of the short-term volatility range. It is recommended to closely monitor key support in the 2.10–2.30 range. If there is a volume-backed stabilization, further upside could be unlocked; however, if this support fails and is accompanied by shrinking volume, beware of a false breakout and the risk of a subsequent pullback. In terms of strategy, dynamically adjust positions, capture range-bound swings, and strengthen risk management.

Recently, crypto assets in the Asia-Pacific market have continued to strengthen, with Bitcoin and Ethereum prices breaking through the $92,000 and $3,100 milestones respectively, boosting the overall risk asset climate. Against this backdrop, investor attention to mid- and small-cap tokens has increased significantly, with both trading activity and inflows for CANDLE on the rise. In the short term, CANDLE may seize rebound opportunities, benefiting from the accommodative market sentiment.

QCP's market analysis on January 5 highlights a strengthening crypto market in Asia, with Bitcoin and Ethereum surpassing $92,000 and $3,100 respectively, driven by US actions in Venezuela, year-end tax-loss trading, and rising crypto legislation expectations. Speculation about Venezuela holding significant "shadow Bitcoin reserves" and using USDT in oil trades could make it a major sovereign BTC holder. Options data show a bullish shift, with increased call options and straddle strategies indicating short covering and bets on upward volatility.

QCP: Venezuela Situation and Options Funding Resonance Strengthen Bullish Expectations in the Crypto Market

The latest options data show a clear increase in call option and straddle strategy positions, reflecting a strengthening market expectation for further upside volatility. At the same time, short covering is intensifying intraday price fluctuations. From a trading psychology perspective, speculators are capitalizing on volatility for intraday and short-term swing trades, which will cause CANDLE’s price to fluctuate within a wider range in the near term.

Although there are signs that the overall market is recovering, more trading volume and price action are needed to confirm the validity of a medium-term upward trend. Therefore, cautious investors should watch how CANDLE performs at key support levels. If it maintains its volume after a pullback or rebounds on increased volume, the bullish pattern would be further confirmed; otherwise, beware of a pullback risk following a false breakout.

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