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QCP: The market is cautious amid Middle East tensions, BTC is moving sideways.
According to QCP, market sentiment remains cautious amid geopolitical instability in the Middle East. Gold prices adjusted slightly, while oil stabilized around the 75 USD mark. Bitcoin (BTC) continues to trade sideways despite the uncertain macro environment.
Derivatives data indicates an increase in downside risk hedging activity, with the risk reversal of BTC and ETH leaning towards (put) options. The short-term volatility of ETH has decreased, reflecting weakened short-term hedging demand. The market is currently awaiting a clear catalyst to break the existing state of stagnation.