QCP: BTC's rebound is mainly due to risk easing, and the market remains in a consolidation range

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ME News Report, April 22 (UTC+8), QCP released a market analysis stating that BTC rebounded from a low of around $75,000 to $78,000, but this rally was mainly driven by risk mitigation rather than fundamental improvements. It pointed out that the extension of the Iran ceasefire reduced short-term geopolitical risks, while Federal Reserve officials' statements maintaining a data-dependent stance did not signal any obvious easing. Futures positions have increased and funding rates remain negative, indicating new short positions entering the market. The current market more reflects volatility under the expectation of short squeeze. In the options market, short-term volatility is about 40%, skewness still leans toward downside protection, and the term structure is relatively flat, overall indicating a sideways pattern. QCP believes that the future market trend still depends on crude oil prices and monetary policy signals. In the absence of clear catalysts, the market may maintain range-bound fluctuations. (Source: ODAILY)
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