QCP Capital: Bitcoin Intraday Rally Followed by Pullback Highlights Structural Resistance, Market Optimism for Q1 Breakout Fading

BlockBeats News, January 12th, QCP Capital posted on its official channel stating that during the early Asian trading session, as the US Dollar plummeted sharply, Bitcoin, gold, and silver rose simultaneously. This fluctuation coincided with Powell's comments, where he mentioned the DOJ's subpoena to the Fed and the potential threat of criminal charges on Friday, seen as retaliation for the Fed's refusal to align with President Trump's preferred interest rate trajectory, rather than related to Powell's June Congressional testimony.

Although the initial volatility may suggest the market attempting once again to position Bitcoin as a hedge against fiat system or institutional risks, the subsequent trend showed significant weakness. Bitcoin failed to sustainably hold above $92,000 and sharply retraced after the European market opened, repeating a pattern seen multiple times in Q4 of last year. This failure to capitalize on the so-called bullish narrative highlights the structural resistance Bitcoin has faced since October 10th, with the market optimism for a breakout rally in Q1 fading.

Looking ahead, the recent volatility risk remains elevated. The market will remain sensitive to the US CPI data on Tuesday (January 13th), followed by the US Supreme Court's tariff ruling on Wednesday (January 14th), which could further impact cross-asset allocation and risk sentiment.