🔥QCP: Bitcoin cautiously rebounds, volatility risk remains ongoing

On April 8, QCP released market insights stating that influenced by the U.S. and Iran reaching a two-week ceasefire agreement, Bitcoin rebounded above $71k, but the ceasefire is conditional and has not resulted in a lasting solution; options market data shows that this rally is more driven by event-driven squeezes, with front-end BTC implied volatility decreasing, but skew deepening and demand for downside puts remaining strong. The term structure remains in contango, indicating that the market has not abandoned hedging. QCP believes that current market caution is reasonable. Recent attacks on Saudi energy infrastructure highlight that even with shipping resuming, volatility risks persist. The macro environment remains complex. U.S. employment data shows a rebound, but underlying labor indicators are weakening, forcing the Federal Reserve to navigate economic…
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