An analysis suggests that while Bitcoin is receiving support due to institutional capital inflows, the overall market structure remains unstable. According to The Block, QCP Capital stated, "Despite geopolitical variables, Bitcoin's implied volatility remains low. This means the market is reflecting a prolonged conflict scenario rather than short-term shocks. Furthermore, risk reversals (where traders buy put options and sell call options) show limited movement, indicating that the market is not yet confident about a clear direction." Timothy Missir, Head of BRN Research, also commented, "The BTC price is staying below the True Market Mean, which represents investors' average cost, and the bear market has continued for about 75 days. To confirm a clearer rebound signal, it needs to recover above the True Market Mean."
