QCP: BTC Breaks Below $78,000, Likely to Remain Range-Bound in Short Term
Source：
www.qcpgroup.com
QCP’s latest market report notes that BTC has fallen below $78,000, following prior consolidation near $80,000—largely supported by options positioning. With over $4 billion in IBIT options expiring last Friday, market makers’ at-the-money gamma support weakened, leading to a decline in mechanical spot price support. Meanwhile, U.S. equities have pulled back from recent highs, and U.S. 10-year and 30-year Treasury yields have risen to 4.62% and 5.14%, respectively; USD/JPY is nearing 160, raising intervention risk and unwinding risk for yen-based carry trades. QCP also states that, absent clear progress on tariffs or U.S.-Iran negotiations, the crypto market is likely to remain range-bound.
