QCP Capital posted on the official Telegram channel: "Since our last post, Bitcoin has fallen below $93,000, with long positions liquidated exceeding $430 million. This decline coincided with the end of five consecutive days of net inflows for the spot ETF, recording outflows of $438 million on Monday, while MicroStrategy's stock price dropped again by 4.4%. This pullback occurred after MicroStrategy's record Bitcoin purchase of $5.4 billion last week. With the US holiday approaching, there are no immediate catalysts to push prices higher, and BTC's path to the symbolic $100,000 level has stalled. The implied volatility for ETH has sharply shifted towards put options rather than call options, reflecting a similar sentiment as the market catches its breath. Concerns about BTC's downside risks may intensify, especially with tonight's FOMC meeting minutes and Wednesday's PCE data due to be released. However, in the long run, this is not an excessive pullback. Bitcoin has merely retraced to levels seen at the beginning of last week. Since the election, the market has become extremely overbought and overly leveraged, making a trading pause inevitable."

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