PANews reported on May 27 that according to QCP Asia's analysis, the macro-positive news last Friday failed to significantly boost Bitcoin. Despite the strong rebound in US stocks, institutional demand for spot ETFs remained stable and supported the market, and BTC remained in the range of US$107,000 to US$110,000. As the Las Vegas Bitcoin Conference from May 27 to 29 approaches, short-term implied volatility continues to be high, and the market focuses on speakers including JD Vance, Michael Saylor, Donald Trump Jr. and Eric Trump. Similar events in history have caused violent fluctuations. At present, market positions tend to be defensive, and the demand for short-term downside protection is still strong.