The latest QCP Capital report points out that the cryptocurrency market has stabilized after last week's volatility, but implied volatility remains high. The market still seems to be preparing for the important events of the week, especially the Trump-Harris debate (9:00 Beijing time on September 11) and the release of CPI data (20:30 Beijing time on September 11). Given the pace of price declines last week, the market remains cautious about downside risks, with risk inversions for BTC and ETH remaining skewed towards put options until October. Despite the short-term noise and price volatility, QCP Capital remains structurally bullish. The market also appears to be taking advantage of this pullback to increase long-term bullish positions, with the firm observing large buyers of call options expiring on March 28, 2025 (call-over prices of $85k, $100k, $120k).