QCP: The crypto market downplays escalating Iran risks, but the sustainability of the latest rally remains to be seen.

Odaily reports that the latest analysis from QCP Capital points out that U.S. President Trump has again postponed taking action against Iran to Tuesday, marking the fourth delay. The market is gradually becoming immune to the repeated pattern of "tough statements + negotiation signals," with expectations for escalating risk cooling, oil prices weakening, and equity index futures remaining stable. In the crypto market, Bitcoin and Ethereum both surged above $69,000 and $2,140 respectively during Asian trading hours, triggering approximately $200 million in short liquidations in a relatively thin liquidity environment.

Overall, despite ongoing geopolitical disturbances, price performance leans more towards stabilization rather than pressure. On the capital side, institutional funds continue to provide support, with Bitcoin ETF seeing a net inflow of about $1.32 billion in March. The current market is generally "risk-on," and investors have not sufficiently prepared for a near-term escalation of conflict. However, with the reopening of the US stock market, the sustainability of this rebound remains to be seen.