QCP Capital: Bitcoin Maintains Low Volatility with a Lack of Breakout Momentum, Market Sentiment Turns Cautious

BlockBeats News, June 9th, QCP Capital posted on its official channel, stating, "As summer approaches, Bitcoin (BTC) continues to trade within a narrow range, with implied volatility remaining under pressure. Although the current implied volatility is at a one-year low, making it seem 'cheap' on the surface, the actual volatility is even lower. Historical data from the past two years shows that short-term option volatility tends to decrease further before July each year. A similar trend was seen around the same time last year."

"If the Bitcoin price can decisively break below $100,000 or above $110,000, it may reignite broad market interest. However, at the moment, there is no clear short-term catalyst to drive this trend. Despite recent macro news causing brief fluctuations, most have been seen as 'noise' by the market, quickly fading away without triggering a directional breakthrough."

"Even with last Friday's U.S. job data beating expectations, leading to stock market gains and gold price declines, Bitcoin remained calm, trapped amidst a confluence of macro factors, lacking a clear direction anchor. Without a compelling narrative to drive a new round of upward momentum, the market is showing signs of fatigue. Open interest in perpetual contracts is decreasing, and the inflow of funds into spot Bitcoin ETFs has also started to slow down."

"Option trading in the past week also reflects this cautious market sentiment. We have observed a significant amount of upward call options expiring in July being rolled over to September, with substantial trade sizes, indicating that investors are postponing their bullish expectations to a later time period."