QCP pointed out that despite the renewed tensions in the Middle East creating a fragile macro environment and crude oil prices maintaining a geopolitical premium, Bitcoin is still hovering around $71,000, showing notable resilience. On-chain data indicates a recent net outflow of BTC, suggesting tokens are being withdrawn from exchanges rather than prepared for sale, while BTC's market dominance continues to rise. In the options market, implied volatility (IV) has declined both intraday and over the week, with forward premium (Contango) remaining moderate. Although there is still demand for downside hedging, there are no signs of panic. QCP believes that until macroeconomic repricing occurs or geopolitical tensions stabilize, BTC will likely remain in a news-driven range-bound market rather than initiating a clear directional trend. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=58667