QCP Capital indicates that market sentiment has shifted with no anticipated rate cuts by the Federal Reserve until October 2025. The increase in the 10-year Treasury yield to 4.8% caused a 1.5% decline in equity futures and briefly pushed Bitcoin prices below $90,000, before recovery.
Small investors, referred to as ‘Shrimps’, are currently accumulating Bitcoin at a significant pace of 17,600 BTC each month. Their collective holdings now account for 6.9% of the Bitcoin circulating supply. However, the options market exhibits bearish activity with many investors rolling options below the $90,000 mark.