“QCP Capital analysts have stated that despite the exacerbation of the conflict between Iran and Israel, the digital gold market demonstrates restraint and fails to sales. After a brief fall on the backdrop of news about Iran Bitcoin strikes, the Bitcoin recovered from a week’s minimum at $ 102,800 to more than $ 107,000. QCP is believed that price stability is supported […]”, – WRITE: Businessua.com.ua
QCP Capital analysts have stated that despite the exacerbation of the conflict between Iran and Israel, the digital gold market demonstrates restraint and fails to panic sales.
After a brief fall on the backdrop of news about Iran’s Bitcoin strikes, the Bitcoin recovered from a week’s minimum at $ 102,800 to more than $ 107,000.
QCP believes that price stability is maintained by existing institutional demand. Companies like Metaplanet and Strategy are buying an asset on local traffic, and the spot bitcoin-ETFs fix the influx of capital for the seventh week in a row.
The key support in the $ 100,000 area has stood, which, according to analysts, gave the resistance market after the initial shock.
“The fall of 3% looks insignificant compared to April 2024, when, under the similar conditions of conflict, bitcoin lost more than 8%,” QCP noted.
Experts note that the volatility by BTC options remains lower than 40, and the VIX index is about 20. Such levels are historically considered low even in peacetime, not to mention the current geopolitical background.
Investors are still actively buying US Treasury bonds and government papers of some Asian countries, which indicates a lack of massive risk from risk.
However, experts warn that the potential overlap of the Strait of the Strait Iran can provoke a jump in oil prices. Further escalation or intervention can be significantly hit by risky assets.
“It is paradoxical, but these risks can become structurally scornful for bitcoin. Considering that the asset is trading only 6% below its historical maximum, its stability only reinforces the narrative that the adoption of digital gold is stimulated by macrositulation, debt load of states and global instability, ”QCP summed up.
Recall that on June 9, the Bitcoin course exceeded $ 107,000 against the background of capital outflows from the spot ETF and news about the unrest in the United States. On June 13, the price of the first cryptocurrency seated up to $ 103 639 after reporting about Iran’s air strikes. Already on June 16, quotes recovered above $ 107,000.
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