Golden Finance reported that QCP Capital stated in an analysis that we are currently witnessing a typical volatility sell-off after the end of the quarter. Although Bitcoin is consolidating near the bottom of the monthly range, BTC and ETH performed well in the fourth quarter: BTC rose by 48%, and ETH rose by 30%. However, it may be a bit early to summarize this quarter. Just yesterday, Michael Saylor hinted again at another round of impending purchases, which could further support the price. Despite the potential for another round of purchases, there is skepticism about any New Year trends, especially under favorable funding conditions. The average return in January (+3.3%) is relatively similar to December's (+4.8%), and spot prices are expected to remain within this range in the short term, with improvements starting from February. Options flow also reflects similar sentiment, with front-end volatility decreasing, and risk reversals favoring the purchase of March call options, partly due to the large volume of March (120k-130k) call options bought last Friday.

#BTC #ETH