QCP Capital： Last week, there was a net inflow of 8775 BTC spot ETFs, and the market rebound may be driven by spot trading

Odaily Planet Daily News: QCP Capital reported that with BTC and ETH returning above $85000 and $2000 respectively, the cryptocurrency market experienced a mild rebound over the weekend, mainly driven by the rebound of US stock futures. Federal Reserve Chairman Powell's "easing" speech at the FOMC meeting last week eased market tension, and the crypto fear and greed index rebounded from 32% last week to 45% this week. It is worth noting that the BTC spot ETF recorded a net inflow of 8775 BTC (approximately $744 million) last week, ending several weeks of capital outflows and indicating that liquidity may begin to flow back into the cryptocurrency market. At present, the open interest volume of perpetual contracts remains low and the funding rate tends to be stable, indicating that this rebound may be driven by spot trading rather than leverage. Despite the boost brought by ETF inflows, QCP remains cautious about the continued rise in the cryptocurrency market. The upcoming new round of tariff policies on April 2nd may once again put pressure on risk assets. The current options market is showing a neutral wait-and-see attitude, with implied volatility of various maturities continuing to decline and risk reversal falling back to a flat level, which has eased compared to last week's obvious bearish bias. QCP stated that they will be monitoring whether this round of rise will repeat the trend of last Monday - a rapid pullback within 48 hours after Sunday's rise.