QCP: Resonance Between the Situation in Venezuela and Options Capital Strengthens Bullish Expectations in the Crypto Market

BlockBeats News, January 5th, QCP released its daily market analysis stating that the crypto market strengthened during the Asian morning session, with Bitcoin and Ethereum breaking through $92,000 and $3,100 respectively. The trend was in sync with the rebound in US stocks and weakening oil prices. The market interpreted this as a resonance among risk assets, with underlying catalysts including macro shocks triggered by US actions against Venezuela, the end of year-end tax loss trading, and rising expectations for a new round of crypto legislation.

Market discussions suggest that if falling oil prices ease inflationary pressures, it would be favorable for BTC performance in the short term. Meanwhile, there are rumors that Venezuela may hold a significant "shadow Bitcoin reserve" and has started using USDT in some oil transactions since 2024, although these claims have not yet been confirmed. If true, Venezuela could become one of the largest sovereign BTC holders.

In derivatives, option structures have clearly turned bullish: put skew across maturities has declined, and since last week, more than 3,000 call options expiring on January 30, 2026, with a strike price of $100,000 have been traded. At the same time, demand for straddle strategies has increased, indicating short covering and bets on upward volatility. Analysts believe that if spot prices continue to rise, there is a risk of further gains driven by Gamma (the speed of Delta change, i.e., the intensity with which market makers are forced to buy or sell spot as prices move), but caution is needed regarding the tendency for gains to be repeatedly given back during US trading hours.