QCP: Bitcoin's upward momentum weakened at the end of the year, and institutional allocation may become the key in 2025

QCP Capital pointed out that as the end of the year approaches, the momentum of BTC has obviously weakened, and the upward movement is limited by selling pressure. Since December 19th, the net outflow of spot ETF has been 1.8 billion US dollars, and the BTC purchase volume of MicroStrategy has slowed down significantly. Looking forward to 2025, the key catalyst may appear in January, as institutions will re-adjust asset allocation, and it is expected that the proportion of Bitcoin institutional allocation will increase, consolidating its dominant position in the market, stabilizing spot volatility, and promoting the growth of market demand for downside protection.