Bitcoin hovers between $107,000 and $111,000, a deceptively narrow range that masks an options market bristling with tension. In a note to clients released today, Singapore-based QCP Capital argues that the lull is anything but benign. “Bitcoin’s reaction to last Friday’s macro developments was relatively restrained, even as equities rallied sharply,” the desk writes, pointing to “steady” institutional inflows into spot-BTC ETFs as the anchor keeping spot prices in check. Bitcoin Calm Before The Storm? The stability, however, has not bled into derivatives: “Front-end implied volatility held firm, with BTC consolidating in a tight range,” QCP observes, adding that traders are actively paying up for one- and two-week downside protection ahead of the Bitcoin Conference that opens in Las Vegas later today
source: https://www.newsbtc.com/bitcoin-news/bitcoin-calm-dangerous-vegas-june-reversal/