QCP Capital stated that with IBIT's large options expiry weakening long gamma support, BTC has fallen below $78,000. QCP pointed out that the rise in U.S. Treasury yields to cycle highs, USD/JPY nearing 160, and the pullback in U.S. stocks have all added pressure to the market. Currently, the market estimates a 50%-60% probability of the Fed raising rates by 25bps by January 2027. QCP believes that the crypto market may remain range-bound until clearer news on tariffs or the U.S.-Iran situation emerges. https://(wublock123.com)/news/qcp-crypto-market-may-rangeahead-of-tariff-or-iran-us-news-61243