QCP: The options market is showing optimistic sentiment, with institutions driving this round of BTC rise.

On April 28, the latest report from QCP Asia pointed out that Bitcoin rose in tandem with gold at the beginning of last week and decoupled from the stock market, but then shifted to rise in tandem with the stock market, indicating that the traditional correlation framework is no longer instructive. The options market showed optimism and the bullish skew remained elevated, with more than 500 BTC-30MAY25-104k-C and 800 BTC-27JUN25-135k-C being bought on Friday. Unlike previous cycles, this rally was driven by traditional financial institutions, rather than speculative leverage. Perpetual contract funding rates remained flat to slightly negative, while spot Bitcoin ETFs have seen six consecutive days of net inflows, totaling $3.1 billion. This week’s key macroeconomic data and corporate earnings reports will be an important test of whether Bitcoin can maintain its upward momentum.