QCP: If Bitcoin's market share falls below the support level of 57.3% and the price remains at 100,000 USD, it will trigger an altcoin season

2025-01-16 17:07:34

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ChainCatcher news, QCP Capital's latest analysis points out that due to the U.S. CPI data being lower than expected, Bitcoin surged by 4.13% to a high of $100,800. In terms of spot ETFs, Bitcoin ETFs saw a net inflow of $723.2 million in a single day, indicating strong institutional demand.

In the options market, traders are heavily buying call options with strike prices between $100,000 and $110,000 expiring in January, while the highest open interest is for $120,000 options expiring in March.

As Bitcoin's market cap share drops from 58.6% to 57.4%, QCP Capital expects that if it falls below the support level of 57.3% and Bitcoin remains around $100,000, it may trigger an altcoin season, with funds potentially rotating from Bitcoin to other cryptocurrencies like Ethereum.

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