QCP Asia Colour – 16 June 2025 Despite escalating tensions in the Middle East, BTC is yet to show signs of full-blown panic. Following initial jitters triggered by Iran-Israel headlines last Friday, the benchmark cryptocurrency has since clawed back losses, recovering from weekly lows of $102.8k to $107k. A similar rebound unfolded across major large-cap tokens and US equity futures. BTC’s resilient price action appears underpinned by continued institutional accumulation. Notably, Metaplanet and Strategy have persisted in buying the dip, while spot BTC ETFs recorded their seventh consecutive week of inflows. The market seems to have rediscovered its footing, particularly after BTC held above the key psychological threshold of $100k despite the initial shock. Crucially, Friday’s modest 3% pullback paled in comparison to April last year, when BTC fell more than 8% amid similar Iran-Israel turmoil. More broadly, markets appear remarkably composed in the face of rising geopolitical risk. BTC frontend implied vols…