Deep Tide TechFlow News, December 24, QCP Capital's latest analysis points out that the Bitcoin price has retraced 14% to $92,500 from last week's all-time high, and then rebounded to $95,000. The spot ETF has seen outflows for three consecutive days, market sentiment is becoming cautious, and year-end liquidity is gradually drying up.
Previously, MicroStrategy increased its Bitcoin holdings by $561 million at an average price of $106,662, marking the seventh consecutive week of purchases. However, this purchase scale reached a recent low, raising doubts in the market about its willingness to buy at high levels. Despite the price decline, the front-end volatility remains low, and there is no significant gamma hedging demand in the market. As the large-scale options expiration approaches on Friday, the volatility butterfly spread remains at a high level of +2.0, indicating that the market has not yet stabilized.
QCP Capital reminds that during the shortened trading hours or market closures in traditional markets, Bitcoin's around-the-clock trading characteristics may become a key channel for market reactions to significant events. Investors are advised to be cautious of potential gap trading during market closures.
