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QCP: BTC rebounded to around $78,000, but it is still an emotional correction rather than a trend reversal

By: rootdata|2026/04/22 18:42:02
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QCP stated that BTC rebounded from an overnight low near $75,000 to around $78,000, but this rise seems more like a correction after a calming of risk sentiment rather than a new phase for the market.

The report pointed out that Trump's unilateral extension of the ceasefire with Iran has reduced expectations for short-term escalation of conflict, but the Strait of Hormuz remains largely closed, and Iran's position is still unclear. Meanwhile, oil prices remain around $100 per barrel, creating a coexistence of inflationary pressure and slowing growth. QCP also noted that BTC's open interest has significantly rebounded, and the funding rate remains negative, indicating that shorts are still increasing their positions during the rise; the options market overall is still pricing for volatility rather than a continuation of trends.

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