QCP: Geopolitical tensions once again disrupt the market, BTC falls back to $74,000

Deep Tide TechFlow News, April 20th, QCP’s latest market outlook states that as controversy reemerges over the Iran-related ceasefire agreement, market pricing of a situation easing has quickly reversed, with U.S. crude oil falling back last Friday and rebounding 8%, while crypto assets weaken simultaneously, with BTC falling back to $74,000 and ETH dropping to around $2,300.

QCP points out that the Strait of Hormuz remains closed, and the U.S. is reportedly preparing to hold a second round of negotiations with Iran in Pakistan, but it is still uncertain whether Iran will participate. Despite the spot price correction, implied volatility remains near its low point for the year, indicating that the market is more inclined to price in the duration of the conflict rather than its intensity. The market is also paying attention to Kevin Warsh, who will testify tomorrow before the Senate Banking Committee on interest rates and economic outlook.