What is the latest status on Bitcoin (BTC)? Where do the option data point to?

Crypto analysis company QCP Capital made important analyses regarding Bitcoin's performance at the weekend last week and the overall atmosphere in the market in its latest evaluation report.

According to the report, after maintaining its price throughout the long weekend holiday, Bitcoin rose to as high as $109,700 during low-volume trading on Sunday, achieving its highest weekly close of all time.

This rise occurred despite the transfer of approximately 8.5 billion dollars worth of BTC from eight old Bitcoin wallets that were activated on Saturday. It was noted that a sale of 4.3 billion dollars worth of BTC had taken place in the middle of the week, with the price hovering around 108,000 dollars at that time. QCP Capital stated that these large-scale "bearish" transactions were largely ignored by the market, while "bullish" scenarios found strong buyers.

It was stated that the rise in the market was also contributed by the rumors of TON's "Golden Visa," which were denied by the authorities of the United Arab Emirates, and Elon Musk's criticisms of fiat currency as he announced a new political formation called "The American Party."

QCP Capital also noted that large investors such as Metaplanet and Strategy continued to make strategic purchases over the weekend. However, it is anticipated that the price may become range-bound due to new sell orders from these large wallets, and implied volatility could drop to record low levels.

It is stated that if the resistance level of 110,000 dollars is clearly surpassed, a new increase in volatility may be experienced. It is observed that institutional investors are showing interest in the September futures call options at 130,000 dollars and continue to maintain their call spread positions at 115,000/140,000 dollars. According to QCP Capital, this situation indicates a structurally optimistic outlook for the third quarter of 2025.