QCP Capital: Market sentiment is turning bullish on Bitcoin

Crypto market maker QCP Capital said in its latest market report that despite limited volatility in Bitcoin prices over the past week, market sentiment is turning bullish on Bitcoin, mainly based on the following five reasons: 1. Bitcoin spot ETF inflows have increased significantly in recent days, reaching $232 million on Thursday; 2. Traditional financial giants such as Citadel, Goldman Sachs, UBS and Citi will serve as authorized participants of BlackRock's Bitcoin ETF, which is good news; 3. The market continues to buy a large number of Bitcoin call options (Ethereum call options have seen a large number of sell-offs); 4. Bitcoin perpetual contract funding rates remain flat, the forward curve is lower, and the leverage level is reduced; 5. The upcoming Bitcoin halving narrative.