QCP: Bitcoin Maintains Range-Bound Trading, Yet to Form Clear Breakout Momentum

March 30: The latest QCP market update notes Bitcoin briefly dropped to $65,000 during Asian trading hours before rebounding quickly. It’s now trading steady between $66,000 and $67,000, continuing the typical weekend softness followed by early-week stabilization. Despite facing selling pressure post-options expiration and uncertainty around the Middle East, BTC is still holding in the $65,000–$70,000 range overall. However, the monthly chart could mark a sixth consecutive monthly decline, reflecting lingering market fragility. The report also highlights Bitcoin’s relative performance remains resilient, outperforming gold and U.S. stocks since the Iran conflict escalation—signaling a partial return to its safe-haven characteristics. With the 10-day “buffer period” Trump set for potential military action against Iran expiring April 6, markets remain wary of an escalation. BTC’s short-term trend will stay largely news-driven. On the macro front, elevated oil prices and risks to critical shipping lanes continue to bolster stagflation expectations. Even if tensions ease, the war risk premium will likely linger short-term. In derivatives markets, volatility has stayed compressed post-options expiration, and traders are still inclined to buy the dip. The overall market structure signals caution, not panic, and clear upward momentum has yet to take hold.