QCP: Liquidity in the Crypto Derivatives Market Continues to Improve, Market Risk Appetite Rebounds

BlockBeats News, July 2nd, QCP released its daily market observation, stating that "Institutional demand supports Bitcoin, and the US SEC accelerates the ETF approval process. Cryptocurrency derivative market liquidity continues to improve. Solana futures set a new historical high with a trading volume of 1.75 million contracts on the Chicago Mercantile Exchange (CME), while XRP futures surpassed $500 million in trading volume in its first month of trading. Risk reversals in the Bitcoin options market have slightly rebounded, but implied volatility remains near historical lows. Basis and yields still reflect a somewhat subdued market sentiment, with most trading positions currently leaning towards dip-buying and range-bound strategies."

Bitcoin's market dominance rate remains stable at 65%-66%, reaching a multi-year high. Retail investors, OGs, and short-term holders seem to have entered a "summer vacation mode," while institutions are quietly continuing to accumulate. Market attention is now shifting to the third and fourth quarters, and the current position holdings indicate that a potential new volatility cycle is about to begin.

The US macro environment favors risk assets, with dovish signals strengthening and market risk appetite returning. US stocks continue to steadily rise, benefiting from the resurgence of the IPO market and expectations of easing tensions in US-China trade, debt ceiling, and geopolitical risks. This risk-on sentiment has also spilled over into the cryptocurrency market, although altcoin sentiment still lags behind that of mainstream coins."