BlockBeats news, on December 31, QCP Capital stated on their official channel that due to weak liquidity, a significant gap has appeared in BTC spot prices. Any upward rebound in the past few days has been constrained by ongoing selling pressure.
As the year-end approaches, BTC's momentum has noticeably weakened, with a net outflow of $1.8 billion from spot ETFs since December 19, and MicroStrategy's BTC purchases have significantly slowed.
The weak price trend of cryptocurrencies reflects broader market sentiment, with the S&P 500 and Nasdaq indices having fallen more than 1% for the third time in eight trading days, indicative of market pricing behavior amidst heightened global trade uncertainty in 2025.
Looking ahead to Q1 2025, despite optimistic views on cryptocurrency-friendly regulations following Trump's inauguration, QCP believes that key catalysts may emerge in January as institutions readjust their asset allocations. With BTC being widely adopted by numerous institutions (including university endowments this year), allocations may increase, thereby strengthening Bitcoin's dominance, stabilizing spot trends, and bringing volatility dynamics closer to equities. Demand for hedging downside put options is expected to increase, while covered call writing on upside call options will become more prevalent.
