TechFlow News, May 18: QCP’s latest market report notes that BTC has fallen below $78,000. The prior consolidation near $80,000 was primarily supported by options positioning. With over $4 billion in IBIT options expiring last Friday, the at-the-money gamma support held by market makers has weakened, leading to a decline in mechanical spot price support. Meanwhile, U.S. equities have retreated from recent highs, and U.S. 10-year and 30-year Treasury yields have risen to 4.62% and 5.14%, respectively; USD/JPY has approached 160, heightening intervention risks and yen carry-trade unwinding risks. QCP also stated that, absent clear progress on tariffs or U.S.-Iran negotiations, the crypto market is likely to remain range-bound.
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