According to Deep潮 TechFlow news, on December 30, QCP Capital's latest analysis pointed out that with the typical quarter-end volatility sell-off following option expirations, volatility decreased by 2-3 percentage points from last Friday's record expiration date. Although BTC fluctuated at the bottom of the 1-month range with steady monthly returns, Q4 performed well: BTC rose 48%, and ETH rose 30%. Saylor recently updated his BTC purchase tracker again, which may indicate a new round of purchases is imminent, further supporting prices.
Despite the possibility of purchases, QCP is cautious about market performance during the New Year period, especially in the context of abundant capital. The average return in January (+3.3%) is similar to December (+4.8%), and it is expected that the recent BTC spot price will remain in this range until February begins to warm up. Option liquidity also reflects similar sentiment, with front-end volatility gradually declining, and the risk reversal for March primarily concentrated on call options, partly due to the large purchase of 120,000 to 130,000 March call options last Friday.
