PANews reported on May 19 that QCP Capital, a Singapore-based crypto investment institution, stated that Bitcoin demonstrated resilience against macroeconomic pressure. Despite Moody's downgrade of the US credit rating triggering risk-averse sentiment in the stock market, BTC briefly broke through the $107,000 mark on Sunday. This rise was primarily driven by the Japanese listed company Metaplanet announcing the purchase of $104 million in BTC and continued institutional accumulation, but subsequently fell back to the recent fluctuation range due to leveraged long position liquidations. Notably, continuous net inflows into spot ETFs indicate stable institutional demand.
During the same period, a landmark event occurred in the crypto industry: Coinbase will officially be included in the S&P 500 index tonight, which is seen as an important milestone in the mainstreaming of cryptocurrencies. This news follows its strategic acquisition of the derivatives exchange Deribit, further strengthening market optimistic expectations. Options market data shows that despite spot price sideways oscillation, BTC call option premiums remain high across various term structures, reflecting long-term bullish market sentiment.
