QCP analysis indicates that BTC rebounded from around $75000 to around $78000, mainly due to Trump's extension of the Iran ceasefire to mitigate short-term risks, but overall it is still a mitigating rebound rather than a trend shift; The current blockade continues, oil prices remain at around $100, and Iran's position is unclear, resulting in ongoing macro uncertainty; Kevin Warsh's statement shows that the Federal Reserve's policy relies more on data, and the market has not significantly lowered interest rate expectations; The increase in open contracts in the cryptocurrency market and negative funding rates indicate the continued establishment of short positions and short-term squeeze risks; The pricing of derivative markets shows consolidation rather than trend continuation, and institutional directional confidence is limited. https://(wublock123.com)/news/qcp-btc-rally-to-78k-deemed-relief-derivatives-pricing-shows-consolidation-59962