In its latest market update, QCP Capital disclosed that selling pressure persists as momentum in the cryptocurrency market diminishes. This trend aligns with broader financial market declines, including three drops of over 1% in the S&P 500 and Nasdaq over eight sessions.

Adding to this bearish sentiment, QCP Capital highlights $1.8 billion in net outflows from spot bitcoin exchange-traded funds (ETFs) since Dec. 19. Microstrategy, a major corporate investor in bitcoin, has also slowed its purchases, QCP analysts noted, further indicating a reduced appetite for the cryptocurrency as the year concludes.

Despite its subdued close to 2024, bitcoin will end the year with a 120% gain, outperforming stocks and gold, according to QCP’s figures. The analysts state that optimism around crypto-friendly regulatory developments following the U.S. presidential inauguration could shape the early months of 2025.

The crypto researchers anticipate a pivotal shift in January as institutions revise their asset allocations. Bitcoin’s adoption by a wider range of entities, including university endowments, signals a potential rise in demand. This development is expected to stabilize bitcoin’s spot price movements and align its volatility patterns more closely with traditional equity markets.

QCP further foresees an increase in hedging strategies, with heightened demand for downside puts to protect against potential losses. Simultaneously, more market participants may sell covered calls to capitalize on price ceilings. These adjustments showcase the market’s evolving maturity and the growing influence of institutional investment in shaping its dynamics.

QCP concludes that while 2025 holds promise, it will largely hinge on institutional activity and regulatory clarity, with bitcoin positioned to further solidify its dominance in the digital asset space.

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