QCP: The optimistic sentiment of institutions is still ongoing, and the economic data soon to be released by the Federal Reserve may increase BTC volatility

QCP announced on its official channel that BTC recently rose to over $97,000 but then fell back to above $95,000. This adjustment coincided with the news of the US government transferring 10,000 BTC related to Silk Road (worth about $963 million at the time of transfer). After this transfer, the front-end volatility curve further tilted towards put options. In terms of institutional demand, optimism continues. The spot ETF recorded another inflow of $350 million yesterday, and MARA Holdings followed in MicroStrategy's footsteps over the past two months by purchasing BTC worth $618 million. Other crypto mining companies like RiotPlatform are increasingly likely to stop selling BTC and some are considering increasing their holdings. Coupled with Microsoft's consideration of holding BTC highlights an increasing interest from businesses in Bitcoin as a reserve asset. Meanwhile, US stocks continue to set new records with S&P 500 reaching its 54th historical high this year. Several Federal Reserve officials hinted at lowering borrowing costs at the next meeting depending on upcoming economic data which could increase event window volatility.