QCP Capital stated that although it has been 12 days since the U.S. and Iran signed a memorandum of understanding (MOU), military exchanges resumed over the weekend with both sides accusing each other of violating the ceasefire agreement, leaving geopolitical uncertainty still in play. BTC and ETH continue to hover above key support levels, while market sentiment remains dampened by the Strategy incident, sustained outflows from Bitcoin spot ETFs, and pressure on U.S. stocks. Meanwhile, traders are continuing to buy BTC put options expiring in July with strike prices between $55k and $58k, driving implied volatility further upward.