According to Odaily Planet Daily, QCP noted in its latest market briefing that the US Senate's push to end the 40-day government shutdown boosted overall risk appetite, driving a rebound in the stock and crypto markets. Bitcoin rebounded above $106,000 after repeatedly testing the $100,000 mark, and market liquidity remained robust despite selling pressure from early holders and ETF outflows.

QCP points out that the risk reversal structure in the options market shows a significant easing of bearish sentiment and a decrease in market concerns about further liquidation. Currently, traders are clearly divided: some are buying $112,000/$120,000/$150,000 call fly options expiring on December 26, while other investors are selling $135,000/$140,000 call spreads, indicating that market expectations for a retest of historical highs remain divergent.

QCP believes that despite continued selling pressure from OG wallets, the market's ability to absorb supply shocks has significantly improved, similar to the performance during the Mt.Gox and Silk Road release periods. If existing holdings are not fully liquidated, BTC is expected to continue fluctuating within a range, with resistance around $118,000.