QCP: Institutional optimism continues, and the Fed’s upcoming economic data may increase BTC volatility

QCP stated on its official channel that BTC recently rose to over $97,000, but then fell back to above $95,000. This correction coincided with news of the US government's transfer of 10,000 BTC (worth about $963 million at the time of transfer) related to Silk Road. After this transfer, the front-end volatility curve further tilted towards put options.

In terms of institutional demand, optimism continues. Spot ETF recorded a capital inflow of $350 million yesterday, and MARA Holdings followed in the footsteps of MicroStrategy by purchasing $618 million worth of BTC in the past two months. Other cryptocurrency mining companies such as RiotPlatform are increasingly likely to stop selling BTC, and some are considering expanding their holdings. The news of Microsoft considering holding BTC, coupled with the growing interest of more and more companies in Bitcoin as a reserve asset, is highlighted.

At the same time, the US stock market continues to set new records, with the SP 500 index reaching its 54th historical high this year. Several Fed officials hinted that they are inclined to lower borrowing costs at the next meeting, although this depends on the upcoming economic data, which may increase the volatility of the event window.