CoinVoice has recently learned that QCP Capital stated in its latest market briefing, "Bitcoin has continued to rise strongly recently, with prices breaking through $122,000, hitting a new high. Technical breakthroughs and large inflows of institutional funds have become the main driving forces. The Crypto Fear and Greed Index has risen from 40 to 70 in three weeks, indicating that market sentiment has rapidly shifted from 'fear' to 'greed.'"
Data shows that last week, net inflows into spot Bitcoin ETFs exceeded $2 billion, with strong institutional participation. At the same time, leveraged long positions in perpetual contracts are continuously increasing, with funding rates approaching 30%, and the total amount of open contracts has surpassed $43 billion, one of the highest levels this year.
The options market is relatively rational. Although spot prices continue to rise, the increase in implied volatility is moderate, reflecting a more mature market. The risk reversal trend for January is stable, with demand for call options in September and December rising, indicating that the market tends to hedge against short-term volatility while maintaining a bullish outlook in the medium to long term.
Despite the strong performance of Bitcoin, caution is needed in chasing after prices against a backdrop of high funding rates and persistent liquidation risks; a pullback strategy may be a better approach. [Original link]
