According to BlockBeats news on August 4, QCP released a daily market analysis stating: Bitcoin has faced a sell-off for the third consecutive Friday, with prices testing the support level of $112,000. Since last Friday, this has triggered over $1 billion in leveraged long liquidations across the market. This sharp drop occurred against the backdrop of rising 'risk-off sentiment' in traditional markets, primarily due to underwhelming U.S. employment data and a new round of tariff policies from Washington. These factors collectively caused both U.S. stocks and the crypto market to decline simultaneously, prompting investors to reassess the outlook for global growth and liquidity.
Despite the market correction, the overall structural uptrend has not been broken. Bitcoin's monthly closing price in July hit a historical high, and this drop appears more like a corrective pullback rather than a capitulative sell-off. Historically, such pullbacks often serve to squeeze out excessive leverage and accumulate momentum for the next round of increases. More importantly, from a macro and structural perspective, there are still supportive factors: the regulatory framework is becoming clearer, the integration of stablecoins is accelerating, and the advancement of institutional-level tokenization projects continues to strengthen the long-term fundamental logic of the crypto market.
Last night, the market showed significant interest in the BTC call fly expiring on August 29, with strike prices of $118k / $124k / $126k, indicating that some investors are betting on a rebound, targeting $124k (above the historical high). Although the short-term put skew remains elevated, it has not yet reached the level of 'full panic'—if the Bitcoin price reclaims $115k, this indicator is expected to return to normal.
