【QCP: The Road to $100,000 for BTC Has Stalled, ETH Implied Volatility Has Shifted to Bearish Options】Golden Finance reports that QCP Capital published an analysis indicating that the recent drop in Bitcoin prices has led to liquidations exceeding $430 million for bulls. This decline coincided with the end of five consecutive days of net inflow for spot ETFs, recording an outflow of $438 million on Monday, while MicroStrategy also dropped by 4.4%. As the U.S. holiday approaches and with no immediate catalysts to drive prices up, the road for BTC to reach the $100,000 level has stalled. Additionally, ETH implied volatility has shifted towards bearish options rather than bullish ones, and market concerns about downside risks may intensify, especially with the Federal Reserve's FOMC meeting minutes and PCE data set to be released soon. However, in the long run, this market downturn is not seen as an excessive correction. Bitcoin has merely retraced to the level at the beginning of last week. Since Trump's election victory, the market has become extremely overbought with excessive leverage, making a pause inevitable.
