QCP Capital reports that bitcoin (BTC) has found stability above $93,000 as the holiday season approaches. This comes despite a recent dip that pushed prices lower. Microstrategy’s (MSTR) recent $5.4 million BTC purchase at $97,862 per BTC is now underwater, with the stock taking a 35% hit. However, QCP notes that MSTR found support at its 20-day exponential moving average, maintaining levels above $350 and signaling potential resilience.

Ethereum (ETH) is showing stronger recovery dynamics, gaining over 4% while BTC dropped by 1.5% during the same period, according to QCP. This shift in momentum is reflected in the ETH/BTC pair, which surged 13% to 0.0366 from a post-election low of 0.0318. QCP highlights that ETH also outperformed the Coindesk 20 Index, which rose just 0.5%.

QCP further notes a significant boost in U.S. equity markets after President-elect Donald Trump announced Scott Bessent as the new Treasury Secretary. Wall Street responded positively, with the Dow Jones Industrial Average climbing 439 points (+0.99%) to reach 44,860. The S&P 500 broke 6,000 points, and the Nasdaq Composite rose by 0.75%.

Bessent’s proposed “3 Arrows” strategy—targeting a 3% budget deficit by 2028, 3% GDP growth, and a daily oil production increase of 3 million barrels—has further lifted market sentiment. His perceived willingness to moderate tariff policies is fueling optimism, driving broad market gains, especially in risk-on assets.

QCP emphasizes that these developments reflect a shift in market flows and sentiment, with ether gaining traction and equities benefiting from policy clarity. The crypto market remains poised for potential volatility as macroeconomic and sector-specific dynamics unfold.

By anchoring bitcoin above key levels and witnessing renewed strength in ETH, the market enters the holiday season with a cautious yet optimistic outlook, QCP’s market analysis concludes.

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