QCP Capital: Bitcoin retraces after intraday gains, highlighting structural resistance; market optimism about Q1 breakout is fading.

On January 12th, QCP Capital issued a statement on their official channel stating that during the Asian trading session, as the US dollar sharply declined, Bitcoin, gold, and silver rose in unison. This volatility coincided with comments from Powell, who stated that the Department of Justice issuing subpoenas to the Federal Reserve and potential criminal charges on Friday are seen as retaliation against the Fed’s refusal to cooperate with President Trump’s preferred interest rate policy path, rather than related to Powell’s Congressional testimony in June. Although the initial volatility may have hinted at the market’s attempt to reframe Bitcoin as a hedge against fiat currency systems or institutional risks, the subsequent trend was clearly weak. Bitcoin failed to sustain above $92,000 and sharply retreated after the European open, repeating patterns seen multiple times in Q4 last year. This failure to capitalize on the so-called bullish narrative highlights the structural resistance Bitcoin has faced since October 10th, with market optimism for a breakout in Q1 waning. Looking ahead, recent volatility risks are expected to remain high. The market will stay sensitive to the US CPI data due on Tuesday (January 13th), and the Supreme Court’s tariff ruling on Wednesday (January 14th) could further influence cross-asset allocation and risk sentiment.