[QCP: BTC Returns Above $80,000, Options Market Yet to Confirm Breakthrough] According to market analysis released by QCP, following Trump's suspension of the 'Project Freedom' initiative, geopolitical risk premiums have eased, oil prices have declined, U.S. equities have risen, and the dollar has weakened. BTC's return above $80,000 is seen as a reflection of improved liquidity, a weaker dollar, and a rebound in risk appetite, showcasing its performance as a high-beta asset. However, the options market has yet to confirm a full breakthrough, with the 1-month at-the-money implied volatility around 41% and the 30-day risk reversal still indicating a bearish protection bias at approximately negative 5.5 volatility. QCP cautions that the Japanese market, influenced by a weaker yen and rising Japanese government bond yields, may marginally tighten global liquidity. BTC needs to effectively break through the $82,000 to $83,000 range.