QCP: Bitcoin remains in a range-bound consolidation, with no clear upward breakout momentum yet.

BlockBeats message, March 30. QCP’s latest market report says that after Bitcoin briefly dipped to $65,000 during the Asian session, it rebounded quickly and is currently holding in the $66,000 to $67,000 range, continuing a typical pattern of weakness over the weekend followed by stabilization at the start of the week. Despite facing sell pressure after options expiry and uncertainty around the Middle East situation, BTC overall still holds the $65,000 to $70,000 range. However, the monthly chart may record a sixth consecutive month of declines, reflecting that market sentiment remains fragile.

The report also notes that Bitcoin’s recent relative performance still shows resilience: since the escalation of the Iran conflict, it has outperformed gold and U.S. equities, suggesting that some safe-haven characteristics are returning. As the April 6 deadline for the Trump “10-day buffer period” for military action against Iran approaches, the market remains alert to the risk of an escalation of the situation. BTC’s short-term price action will still be driven mainly by news developments.

On the macro front, persistently high oil prices and ongoing risks to key transportation corridors continue to strengthen “stagflation” expectations. Even if conditions ease, the war-risk premium is unlikely to fade in the short term. In the derivatives market, options-expiry volatility compression has been limited. Traders are still pricing in volatility for the market; the overall structure reflects caution rather than panic. The market has not yet formed clear upward breakout momentum.