[QCP Market: Range-bound Consolidation Continues, Geopolitical Risks Intensify] According to QCP Market analysis, BTC is hovering around $71,000, showing a quiet consolidation trend rather than a panic-driven decline. The Middle East situation and rising oil prices have increased macroeconomic uncertainty, but BTC has demonstrated resilience, supported by net outflows and rising market dominance. Options implied volatility has declined, the curve shows a mild positive skew, and demand for downside hedging persists, indicating that the market remains cautious but orderly. In the short term, range-bound movements driven by news remain the primary trend.