QCP Capital: Spot BTC hits new highs, but the options market still seems to lean bearish

Odaily Planet Daily reported that QCP Capital analyzed that it is becoming increasingly difficult to find reasons to be bearish on the spot price of Bitcoin. However, the options market has issued a warning that even if the spot continues to hit new highs, the market still leans towards bearish options, perhaps indicating that people are more inclined to hedge rather than actively chase the upward trend. VanEck predicts that the cryptocurrency market will reach a 'mid-term' peak in the first quarter of 2025, driven by sustained bullish sentiment, with a target price for Bitcoin of $180,000. More optimistically, the Financial Accounting Standards Board (FASB) has adopted fair value accounting for Bitcoin and other digital assets, allowing companies to directly reflect fair value gains in their net income — a game changer for the finances of companies holding BTC. Supported by a favorable regulatory environment, this could trigger a cross-asset feedback loop where companies holding BTC find it easier to raise funds, potentially stimulating institutional demand for BTC in a non-linear manner.