QCP: Bitcoin drops below $78k and may remain volatile in the short term

robot
Abstract generation in progress

Mars Finance news: On May 18, QCP’s latest market report said that BTC has fallen below $78,000. Previously, the oscillations around the $80,000 level were largely supported by options positioning. As more than $4 billion worth of IBIT options expired last Friday, the at-the-money gamma support held by market makers weakened, and the mechanical support for the spot price declined accordingly. Meanwhile, US stocks have pulled back from their highs; the yields on the US 10-year and 30-year Treasury bonds rose to 4.62% and 5.14%, respectively, and USD/JPY is near 160, increasing the risk of intervention and the risk of unwinding yen carry trades. Before there is clear progress in tariffs or US-Iran negotiations, the crypto market is likely to remain in a range with continued oscillations.

BTC-0.98%
IBIT-2.92%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned