QCP Capital released a research report saying that Bitcoin continued to soar to a record high. Despite the new high, volatility did not react significantly due to large-scale profit-taking of profits from long-term call options. This means that the market is well prepared for this wave of increases. The financing rate of perpetual contracts is very high, and the basis income has also reached a 7-month high. Although it remains structurally bullish, it remains cautious about any pullbacks, especially those from leveraged liquidations. Historically, such sharp increases in basis income do not usually last too long. In the short term, the spot market is expected to fluctuate around these levels, and volatility may weaken. #zachxbt