Bitcoin and Ether rallied even after another shift in the U.S.-Iran timeline, with President Donald Trump pushing a decision on potential strikes on Iranian power infrastructure to Tuesday at 8 PM EST. In QCP’s note, BTC moved above $69,000 and ETH climbed past $2,140 into the Asia open.
QCP said the move triggered an estimated $200 million in short liquidations in relatively thin liquidity, while oil traded below Friday’s levels and equity futures stayed broadly stable. The desk also noted that implied volatility has drifted lower, with vols now at their lowest since the U.S.-Iran conflict began on February 28, a sign that hedging demand has eased rather than intensified.
What makes this rebound notable is the market’s apparent refusal to price every Iran headline as the start of a deeper shock. QCP also pointed to stronger institutional support in the background, including about $1.32 billion in net spot Bitcoin ETF inflows in March and continued ETH accumulation by Bitmine.
Source: QCP Group.
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