PANews reported on December 31 that QCP Capital said that due to low liquidity, the volatility of the BTC spot market has increased, and the recent rise has been constrained by continued selling pressure. Since December 19, the spot ETF has seen a net outflow of $1.8 billion, while MicroStrategy's purchase of BTC has slowed significantly, causing BTC to lose momentum at the end of the year.
The crypto market’s weak performance was in line with global market sentiment, with the S&P 500 and Nasdaq falling more than 1% for the third time in eight trading days, reflecting the market’s pricing of global trade uncertainty in 2025.
Despite the lackluster performance at the end of the year, BTC rose 120% throughout the year, outperforming global stocks and gold. QCP Capital believes that the key catalyst for BTC in 2025 may appear in January, and institutional readjustment of asset allocation may increase the proportion of BTC allocation, consolidate Bitcoin's dominance, and make volatility closer to the stock market. The market is expected to increase demand for downside protection and hedge risks more by selling call options.
