QCP: Bitcoin remains range-bound, with the market still driven by macroeconomic and geopolitical factors.

QCP released a market report stating that Bitcoin is currently hovering around $71,000, exhibiting a consolidation trend rather than significant downward pressure. The report points out that the Middle East situation has brought a geopolitical risk premium, but Bitcoin has performed relatively steadily. Net outflows of on-chain funds indicate that funds are more inclined to withdraw from exchanges rather than sell. In the options market, implied volatility has decreased, the curve maintains a slight premium, and downside hedging demand remains but there has been no panic. QCP believes that before macroeconomic and geopolitical factors become clearer, Bitcoin will continue to maintain a news-driven range-bound trading pattern.