"Bitcoin, low volatility… Market interest will return only if it breaks out of the range"
Summary
- QCP Capital stated that Bitcoin must break out of the $100,000–$110,000 range for market interest to return.
- Currently, Bitcoin's implied volatility is low, and there is a possibility that short-term volatility may decline further until July.
- The options market is also seeing a decrease in short-term bullish expectations.
There is a claim that market interest in Bitcoin (BTC) will return only if it breaks out of the $100,000–$110,000 price range.
On the 9th (local time), QCP Capital stated in its report, "Market fatigue is emerging in an environment lacking an attractive catalyst to drive a bullish rally," adding, "Bitcoin needs to either fall below $100,000 or break above $110,000 to regain market attention."
The report noted that current implied volatility of Bitcoin is at a low level. It further explained, "Historical data suggests that over the past two years, Bitcoin's short-term volatility tends to decrease further until July," and "The options market is also showing signs of waning expectations for a short-term rally."
As of 7:18 PM, on the Binance USDT market, Bitcoin is trading at $107,384, up 2.18% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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