QCP: The US government ends the shutdown process to boost the market, and BTC returns to the $106,000 range

QCP pointed out in the latest market briefing that the U.S. Senate is pushing to end the 40-day government shutdown process, boosting overall risk appetite and driving a rebound in both the stock and crypto markets. Bitcoin has regained the $106,000 level after multiple dips below the $100,000 mark, and despite facing selling pressure from early holders and ETF fund outflows, market liquidity remains robust.

QCP noted that the risk reversal structure in the options market shows a significant easing of bearish sentiment, with concerns about further liquidations decreasing. Current traders are clearly divided: some are buying call fly options with strikes of $112,000/$120,000/$150,000 expiring on December 26, while other investors are selling call spreads at $135,000/$140,000, indicating a divergence in market expectations regarding a retest of historical highs. QCP believes that although OG wallets continue to exert selling pressure, the market's ability to absorb supply shocks has significantly improved, similar to the performance during the release periods of Mt. Gox and Silk Road. If the old chips are not fully cleared, BTC is expected to continue oscillating within a range, with resistance around $118,000.