QCP Group: Bitcoin’s Upward Break Unlikely Without Strategic Bitcoin Reserve Confirmation

Recently, QCP Group noted that Bitcoin (BTC) dropped below $100,000, along with other risky assets declining, as worries about China’s Deepseek technology spread across global markets. QCP believes that BTC won’t rise without the confirmation of a Strategic Bitcoin Reserve. It noted that the Trump administration’s evaluation for a ‘national digital asset stockpile’ was not enough to sustain bullishness in the market, at least in the near term. Risk reversals suggest limited movement until March, with the market not expecting much until the quarter ends. However, it noted that with China’s Deepseek tech challenging the US market, it would not be surprising if Trump attempts to step in and intervene.