Bitcoin net inflows surge to $2.1 billion! Market giants bet on new highs, BlackRock's IBIT inflows hit record!
The latest weekend report from QCP Capital reveals key data amid fluctuations in market sentiment. Despite Bitcoin dropping below $69,000 on Friday, market interest in BTC remains strong: the total open interest in futures and options reached $40.65 billion and $25.3 billion respectively, reflecting strong holding confidence. Notably, BlackRock's IBIT saw a single-day net inflow of $872 million, setting a new single-day inflow record since January!
On the macroeconomic front, Thursday's core PCE data slightly exceeded expectations, while Friday's non-farm payrolls unexpectedly declined, pushing the dollar index back to the 104 level, bringing new volatility signals to the market. Even so, the short-term implied volatility for BTC and ETH has climbed above 72 units, indicating a high level of market precaution against future uncertainties, with increasing bearish protective sentiment.
Politically, the market once enthusiastically favored the chances of Trump’s re-election, but Polymarket's betting rate quickly dropped from a high of 66% to 57% and 43%. As election week approaches, short-term volatility is expected to intensify further, potentially leading to increased demand for risk hedging in the market.
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