According to BlockBeats news, on December 31, QCP Capital stated in an official channel that due to weak liquidity, there is a significant gap in BTC spot prices. Any upward rebound in the past few days has been limited by ongoing selling pressure.
As the year comes to a close, the momentum of BTC has clearly weakened, with a net outflow of $1.8 billion from spot ETFs since December 19, and MicroStrategy's BTC purchases have noticeably slowed.
The weak price trend of cryptocurrencies reflects broader market sentiment, with the S&P 500 and Nasdaq indexes falling more than 1% for the third time in eight trading days, reflecting the market's pricing behavior amid increasing global trade uncertainties in 2025.
Looking ahead to Q1 2025, although there is an optimistic outlook regarding cryptocurrency-friendly regulations after Trump's inauguration, QCP believes that key catalysts may emerge in January as institutions readjust their asset allocations. As BTC is widely adopted by various institutions (with university endowment funds joining this year), allocations may increase, thereby strengthening Bitcoin's dominance, stabilizing spot trends, and bringing volatility dynamics closer to those of stocks. Demand for hedging downside put options is expected to increase, while covered call writing for upside call options will become more common.
