QCP: Bitcoin needs to hold at $67k, and the market has not yet shown extreme panic

Golden Finance reports that on June 3rd, QCP Capital issued a statement on its official channel indicating that as of June 3rd, Bitcoin experienced intense volatility, with a total decline of about 11.6% this week, failing to return to the key upward range. MSTR rarely sold 32 Bitcoins to pay preferred stock dividends, and although the scale was small, it broke the market's "never sell" expectation, triggering emotional fluctuations. On the macro level, escalating conflicts in the Middle East pushed oil prices higher, and strong US employment data weakened the Federal Reserve's rate cut expectations, increasing the likelihood of long-term high interest rates.
The crypto market's deleveraging combined with unfavorable macro conditions has put pressure on high-beta assets like Bitcoin. The options market shows strong defensive sentiment, with the 30-day at-the-money implied volatility rising to 41.4, short-term structures inverted, and the risk reversal indicator significantly negative, indicating the market prefers buying downside protection rather than chasing gains. Currently, Bitcoin needs to stay within the $67,000-$68,000 range; otherwise, the rebound remains fragile. The overall market is not panicking and exiting, but hedging against downside risks, waiting for a soft macro landing or easing geopolitical tensions.
BTC-1.81%
MSTR-6.82%
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