QCP Capital: Market optimism about a Q1 breakout is fading.

QCP Capital stated on its official channel that during the early Asian trading session, as the US dollar sharply declined, Bitcoin, gold, and silver rose simultaneously. This volatility coincided with comments from Powell, who mentioned that the Department of Justice issuing a subpoena to the Federal Reserve and the potential criminal charges on Friday are seen as retaliation against the Federal Reserve's refusal to cooperate with President Trump's preferred interest rate policy path, rather than issues related to Powell's June congressional testimony. Although the initial volatility might suggest the market is once again attempting to position Bitcoin as a hedge against the fiat currency system or institutional risks, the subsequent trend was clearly weak. Bitcoin failed to sustain above $92,000 and sharply pulled back after the European market opened, repeating a pattern seen multiple times in the fourth quarter of last year. This failure to capitalize on the so-called bullish narrative highlights the structural resistance Bitcoin has faced since October 10, and market optimism for a breakout in the first quarter is fading.