QCP: Bitcoin escapes June's slump, market bullish tone consolidated

Mars Finance News, on June 30, QCP released its daily market observation, stating, "Bitcoin broke away from its usual June doldrums, rising at the last moment during the Asian early market session, catching up with the stock market that set a new historical high last week. This rally was partially driven by optimistic sentiment from Washington, with the $4.5 trillion tax bill proposed by former President Trump passing a key procedural hurdle in the Senate over the weekend. Market focus is now turning to the decisive vote tonight at 9 pm, with Republicans hoping to finalize the bill before the July 4 deadline." "Despite ongoing geopolitical headwinds, institutional fund inflows remain strong. Bitcoin spot ETF recorded net inflows again last week, totaling $2.2 billion, highlighting continued demand from large investors. Heavyweight institutions like Strategy and Metaplanet maintained their accumulation pace, further consolidating the bullish market sentiment. As Bitcoin spot price approaches $108,000, leveraged long positions are beginning to accumulate, with perpetual contract funding rates on major trading platforms shifting from neutral to positive. Market positioning seems to be chasing this trend, with participants tending to make directional bets before the quarter's end." "Driven by the anticipated ETH and SOL staking ETF proposed by REX Shares, Ethereum and SOL also saw gains, with the SEC's positive feedback reigniting market optimism about potential ETF approval. This would provide institutional investors with another avenue to generate returns through cryptocurrency base and staking strategies. However, beneath this bullish price movement, the options market remains subdued. Risk reversal indicators remain flat across most terms, with implied volatility continuing to hover near historical lows. The current spot price below $110,000 seems less attractive, with $100,000 just a week ago feeling like a distant memory."