According to TechFlow, QCP Capital's latest analysis pointed out that due to weak liquidity, there is a clear gap in the BTC spot market, and the recent rebound is limited by continued selling pressure.
Since December 19, spot ETFs have seen net outflows of $1.8 billion, and MicroStrategy's BTC purchases have slowed significantly, reflecting the weak trend in the crypto market in line with overall market sentiment.
Despite the mediocre performance at the end of the year, BTC ended the year up 120%, surpassing global stocks and gold. Looking ahead to 2025, the adjustment of institutional asset allocation may become a key catalyst, which is expected to strengthen BTC's dominance.
