According to BlockBeats, QCP Capital said that due to weak liquidity, there was a gap in BTC spot and the recent rebound was limited by selling pressure.
Spot ETFs have seen net outflows of $1.8 billion since December 19, and MicroStrategy’s BTC purchases have slowed, reflecting weak market sentiment.
Looking ahead to Q1 2025, despite optimism about regulations after Trump’s inauguration, QCP believes that the January institutional asset adjustment will be a key catalyst, which may strengthen BTC dominance and stabilize spot trends.
It is expected that the demand for hedging downside put options will increase, and the covered selling of upside call options will increase.