QCP: The progress of the US government's shutdown resolution boosted the market, and BTC returned to the $106,000 range.

In its latest market briefing, QCP noted 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 pointed out that the risk reversal structure in the options market shows a significant easing of bearish sentiment, with reduced concerns about further liquidation. Current traders are clearly divided: some are buying call fly options expiring on December 26th at $112,000/$120,000/$150,000, while others are selling call spreads at $135,000/$140,000, indicating continued disagreement in market expectations for a retest of historical highs. 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 the old tokens are not completely cleared out, BTC is expected to continue to fluctuate within a range, with resistance at around $118,000.