QCP: In the short term, the spot price of BTC will fluctuate at the current level, volatility will slow down, and the structural outlook is bullish

QCP Capital stated that BTC has continuously hit a new historical high, breaking through $82,000, although the price has risen, the volatility has not reflected this significantly due to the profit-taking of a large number of call options, indicating that the market is well-prepared for this round of uptrend. The market sentiment is currently extremely optimistic, the perpetual contract funding rate has soared, and the basis yield has reached a 7-month high. QCP expects the spot price to fluctuate at the current level in the short term, with volatility easing, a structural bullish trend, but remains cautious about the pullback caused by leveraged liquidation.