QCP Capital: Hard to Find Bearish Reasons for Bitcoin Spot, But Options Market Signals Caution

QCP Capital highlights that bearish arguments for Bitcoin's spot price are increasingly difficult to justify. However, the options market continues to show a preference for puts over calls, indicating lingering risk-hedging sentiment despite Bitcoin's spot price reaching new highs.VanEck predicts Bitcoin could hit $180,000 in Q1 2025, driven by sustained bullish momentum pushing the crypto market to a "medium-term" peak.Additionally, the FASB's adoption of fair value accounting for Bitcoin allows companies to reflect gains directly in net income—an optimistic development for corporate BTC treasuries. This could trigger a cross-asset feedback loop, making it easier for firms holding Bitcoin to raise funds and potentially sparking further institutional demand.