QCP: Continued focus on BTC's key resistance level of $88,800 has seen early signs of a return of institutional confidence

"Bitcoin broke through $87,000 in early Asian trading, a strong rally that has recouped most of the losses triggered by former President Trump's unexpected" Liberation Day "announcement on April 2," QCP Capital said in a statement on its official channel. "The narrative of bitcoin as a safe-haven asset or inflation hedge has gained attention again. If this dynamic continues, it may provide a new impetus for institutions to allocate bitcoin.
Early signs of a return in institutional confidence are already being seen. Spot Bitcoin ETFs recorded a net inflow of $13.40 million last week, in sharp contrast to a net outflow of $708 million the previous week. In the options market, the position structure has become balanced. The level of risk reversal across terms has flattened out, diverging from the near-month bearish bias that persisted in previous weeks.
So, is today's synchronized rally in bitcoin and gold holiday market noise, or is it an important signal of bitcoin's shift to a safe haven asset? If it is the latter, it would mark a substantial change in traditional financial perception of bitcoin. With European markets still on holiday, market confirmation may take a few more trading days. The correlation between bitcoin and gold and stocks is worth watching closely. For now, we continue to watch the key resistance level of $88,800. We are cautious about making any definitive conclusions until we break through that level. "