QCP: Institutional capital flows remain resilient, Bitcoin long positions chase the price.

Gate News bot news, QCP pointed out in its market analysis that Bitcoin has shaken off the typical dragging market of June, rebounding at the last moment in the Asian trading session, catching up with the stock market that set a historical high last week. This trend is partly attributed to the renewed optimism in Washington, as President Trump's $4.5 trillion tax bill passed a key procedural hurdle in the Senate over the weekend. Attention is now turning to the decisive vote scheduled for 9 AM Eastern Time today, as Republicans aim to finalize the bill before the July 4 deadline.

Despite the ongoing geopolitical headwinds, institutional capital flows remain resilient. The BTC spot ETF achieved another milestone last week, with a total inflow of $2.2 billion, highlighting the sustained demand from major institutional allocators. Heavyweight funds like Strategy and Metaplanet have maintained their accumulation pace, reinforcing the bullish tone in the market.

As the BTC spot price approaches $108,000, we are starting to see an increase in leveraged long positions, as the perpetual funding rates across major exchanges have shifted from flat to positive. Positions appear to be chasing the rise, as participants tend to make directional bets ahead of the quarter-end.

Ethereum and Solana also joined the overnight surge, thanks to expectations surrounding the proposed ETH and SOL staking ETFs by REX Shares. Positive feedback from the U.S. Securities and Exchange Commission has rekindled optimism about the potential approval of such products. This will provide institutional investors with another avenue to generate returns from cryptocurrency basis and staking strategies.

However, beneath the surface of this bullish price trend, the options market remains subdued. The risk reversal indicators for most maturities are flat, and implied volatility continues to hover around historical lows. Currently, the spot price below $110,000 does not seem to be exciting, and just a week ago, the $100,000 level seemed like a distant memory.