TechFlow News, July 20, according to a market report released by QCP Group, the overall market is currently in a risk-off state. Affected by escalating tensions between the US and Iran, Brent crude oil broke through $85 per barrel, hitting a one-month high, with a weekly gain of over 10%; the US stock semiconductor sector led the decline, as the market worries that hyperscale cloud vendors may cut AI infrastructure spending, and funds are shifting to defensive sectors and energy sectors.
In terms of the crypto market, BTC continues to consolidate narrowly within the $63,000 to $65,000 range, currently trading around $64,100, having briefly fallen to a low of $62,924 on July 17; ETH performance continues to be weaker than BTC, currently trading at $1,832, having fallen back after previously briefly breaking through $1,900, with a key resistance level at $1,847; bulls need to reclaim the 200-day moving average (around $2,400) to improve the overall structure.
Positive signals appear on the funding front, with US spot Bitcoin ETFs recording net inflows for four consecutive days, reversing the previous record $8 billion net outflow trend. In terms of the options market, realized volatility continues to compress, front-end option pricing is relatively cheap, and market makers are in a Gamma short position before the FOMC meeting on July 28 to 29; if tensions in the Strait of Hormuz ease, the risk of accelerated upside cannot be ignored.
