According to ChainCatcher, QCP Capital's latest analysis indicates that BTC spot has shown a significant gap due to thin liquidity, with recent rebounds limited by ongoing selling pressure.
Since December 19, net outflows from spot ETFs have reached $1.8 billion, and MicroStrategy's BTC purchases have noticeably slowed, reflecting the weak trend in the crypto market consistent with the overall market sentiment, with the S&P 500 and Nasdaq falling over 1% for the third time in eight trading days. Despite a lackluster year-end performance, BTC has risen 120% year-to-date, outperforming global stocks and gold.
Looking ahead to 2025, despite an optimistic outlook on crypto-friendly policies post-Trump administration, adjustments in institutional asset allocation could become a key catalyst. The widespread adoption of BTC among various institutions is expected to strengthen its dominant position, stabilize spot volatility, and drive up demand for hedging and selling call options.
