On September 21, QCP Capital released a daily report stating that cryptocurrencies had risen for the third consecutive day, with BTC testing $64,000 again and ETH reclaiming $2,500.

This rally was supported by strong inflows into BTC and ETH spot ETFs. Over the past two days, BTC ETFs saw net inflows of $250.3 million, while ETH ETFs saw net inflows of $8.1 million.

With no major macroeconomic events expected before Friday, aside from the upcoming PCE inflation report, crypto prices could see a slight pause here as enthusiasm for interest rate cuts fades. As of this morning, BTC has fallen below $63,000.

In terms of options, front-end BTC volatility has declined 6 points from yesterday's peak, with volatility continuing to fall as the market adjusts to a path of policy normalization.