QCP: BTC surged past 106,500 during early Asian hours. Short liquidations totaling approximately USD151 mm over the past 12h fueled the rally, as an illiquid and complacent weekend (Deribit funding briefly turned negative) market squeezed shorts on the topside. The BTC/Gold ratio reached an all-time high during the move, amplifying Bitcoin’s status as “digital gold” and cementing its position as an increasingly favored store of value over traditional gold.