QCP: Bitcoin Must Hold $67,000, No Extreme Fear in the Market Yet

BlockBeats News, June 3rd. QCP Capital announced in its official channel that as of June 3rd, Bitcoin experienced intense volatility, with a cumulative weekly decline of about 11.6%, failing to re-enter the key uptrend zone. MSTR made a rare sell-off of 32 bitcoins to pay preferred stock dividends, breaking the market's "HODL" expectations and causing emotional fluctuations.

On a macro level, the escalated Middle East conflict pushed up oil prices, while strong U.S. job data weakened the expectation of a Fed rate cut, increasing the probability of long-term high interest rates. The deleveraging in the crypto market, combined with unfavorable macroeconomic conditions, put pressure on high-beta asset Bitcoin.

The options market showed strong defensive sentiment, with the 30-day at-the-money implied volatility rising to 41.4. The short-term structure was inverted, the risk reversal indicator significantly in the negative, indicating a market preference for buying downside protection rather than chasing upside.

Currently, Bitcoin needs to hold the $67,000-$68,000 range; otherwise, any rebound appears fragile. The overall market is not in panic sell-off mode but is hedging against downside risks, quietly waiting for a macro soft landing or easing geopolitical tensions.