Analysts: Bitcoin's overall market structure remains unstable

Bitcoin is receiving support from institutional fund inflows, but its overall market structure remains unstable, according to recent analysis. QCP Capital noted that Bitcoin's implied volatility has remained low despite geopolitical variables, The Block reported. This suggests the market is pricing in a prolonged conflict scenario rather than a short-term shock. The firm added that limited movement in risk reversals, where traders buy put options and sell call options, indicates the market is still uncertain about a clear direction. Separately, Timothy Mishir, head of research at BRN Research, stated that the BTC price is staying below the True Market Mean, which represents the average investor's cost basis. He added that the bear market has continued for about 75 days. "To confirm a clearer rebound signal, it is necessary to recover above the True Market Mean," Mishir assessed.