"Market Shows Mixed Risk Aversion and Appetite... Attention Needed on Bitcoin's Direction"

An analysis suggests that Bitcoin (BTC)'s movement in the coming days could serve as a major milestone determining the direction of the virtual asset (cryptocurrency) market.

On the 23rd (local time), QCP Capital stated in a report, "Last weekend, Iran hinted at a blockade of the Strait of Hormuz, causing Bitcoin to plunge to as low as $98,200," but added, "As buying interest from investors recovered, Bitcoin surpassed $100,000 again in just one day." The report continued, "The market is assessing this incident not as a global conflict but simply as rising regional tensions," and explained that "US stock futures, oil prices, and gold prices also recovered to the levels seen last Friday." Furthermore, the report mentioned that Bitcoin's future direction is of great importance. The report noted, "Currently, the Bitcoin options market is dominated by put options, but the rebound in spot prices and a decrease in short-term volatility indicate low risk aversion among investors," and assessed that "the market is currently showing a mix of risk appetite and aversion." It also emphasized that Bitcoin's price trend over the next few days will be a highly significant indicator determining the overall direction of the virtual asset market.