QCP Capital points out that Bitcoin broke through the $122,000 mark, with market sentiment quickly shifting from "fear" to "greed", and the fear and greed index rising from 40 to 70 within three weeks. Institutional funds continue to flow in, with spot BTC ETF recording over $2 billion in net inflows last week. In the derivatives market, BTC perpetual contract funding rates are approaching 30%, and the total open interest has exceeded $43 billion. Despite strong spot market gains, options implied volatility has not seen a significant surge, with traders primarily expressing bullish views through perpetual contracts.
QCP: Bitcoin breaks through $122,000, and market preference shifts from fear to greed
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