QCP: Bitcoin Maintains Range-Bound Volatility, Market Still Driven by Macro and Geopolitical Factors

Odaily reported that QCP released a market report stating that Bitcoin is currently hovering around the $71,000 range, showing a consolidation pattern overall rather than clear selling pressure. The report points out that the Middle East situation brings geopolitical risk premiums, but Bitcoin's performance is relatively stable. Net outflows of on-chain funds indicate that capital is more inclined to withdraw from exchanges rather than being sold off. In the options market, implied volatility has declined, and the curve maintains a slight contango. Demand for downside hedging persists, but there is no sign of panic. QCP believes that until macro and geopolitical factors become clearer, Bitcoin will continue to experience news-driven range-bound movements.