Bitcoin faces an unstable summer amid low volatility

According to Odaily, QCP Capital has noted that as summer approaches, Bitcoin (BTC) continues to trade within a narrow range, with implied volatility under pressure. Although implied volatility is at its lowest level of the year and appears 'cheap', actual volatility is even lower. Historical data from the past two years shows that the volatility of short-term options tends to decrease further before July each year, a trend also observed last year.

Bitcoin could regain widespread interest in the market if it clearly breaks below $100,000 or above $110,000. However, there are currently no clear short-term catalysts to drive such a move. Recent macroeconomic news has caused short-lived volatility but is mostly seen by the market as 'noise', quickly fading without causing breakthroughs in a certain direction. Although U.S. employment data exceeded expectations last Friday, leading to a rise in U.S. stocks and a decline in gold, Bitcoin remains stable, stuck in the cross currents of many macro factors without a clear directional anchor.$BTC