[QCP Report States BTC Falls Below $78,000, Options Support Weakens] According to QCP's latest market report, BTC has fallen below $78,000, after previously oscillating around $80,000 primarily due to options positioning support. Last Friday, over $4 billion in IBIT options expired, weakening the at-the-money Gamma support held by market makers, thereby reducing the mechanical support for spot prices. Meanwhile, U.S. equities have retreated from their highs, with the 10-year and 30-year U.S. Treasury yields rising to 4.62% and 5.14%, respectively. USD/JPY is approaching 160, increasing the risks of intervention and unwinding of yen carry trades. QCP stated that unless there is clear progress on tariffs or U.S.-Iran negotiations, the crypto market is likely to remain in a range-bound state.