The Storm Before the Bitcoin Conference?
The market holds its breath for the Las Vegas event, with Bitcoin consolidating in the 107K–110K range. QCP data shows a decrease in perpetual contract open interest and stabilizing funding rates, while high-leverage players have already reduced their positions for risk mitigation.
Beware of political variables:
Trump II, JD Vance, and Sellers will take the stage. Last year, after Old Trump’s speech, volatility soared to over 90+ within a day, and dropped 30% within two days.
Short-term demand for put options has surged, with implied volatility remaining high, as funds bet on a turning point.
Historical scripts may repeat, but the current market structure is more robust—institutional holdings have increased, and ETF funds continue to flow in. Volatility may plummet after the conference, revealing the true direction.
