ChainCatcher news, QCP Capital stated in an official channel that given the strong upward trend of Bitcoin since the U.S. elections, it believes that a target price of $100,000 to $120,000 may not be far off. As the market prepares for the next rally, it is important to note the following trends and risk factors:Due to many large participants preparing for it and selling call options during the rally, implied volatility has been declining. With each new high, trading desks have observed the market selling call options and buying put options to hedge against downside risks.The market remains highly leveraged, especially in altcoins, where significant leverage has pushed the perpetual funding rate (1 year) up to 50-100%. Therefore, the risk of deleveraging could be quite substantial, particularly for altcoins.QCP Capital believes that the potential strength of BTC represents a systemic shift in the market in anticipation of Trump's return to the White House. The idea of initiating strategic BTC reserves and rotating from gold to BTC provides a strong bullish perspective that could support BTC prices.

ChainCatcher message, Bitfinex released a report indicating that after experiencing 8 months of turbulence, Bitcoin nearly broke its all-time high last week but then faced a sharp pullback. We believe this rebound was initially driven by the "Trump trade" narrative, and was subsequently affected by the uncertainty surrounding the results of tomorrow's U.S. presidential election. This lack of confidence is also reflected in the Bitcoin options market.As election day approaches, the market generally believes that a Republican victory would be favorable for Bitcoin, while the prospects of a Democratic win appear more ambiguous. The average odds of Trump winning have decreased from 64.9% to 56%. In the options market, the implied volatility of contracts nearing expiration has been unusually low ahead of election day. This calm in volatility indicates that investors are on the sidelines, waiting for clarity. However, it is expected that volatility will surge between November 5 and 8, which could trigger significant market fluctuations; if volatility fails to materialize, it may indicate a deeper caution in the market.A similar coolness has emerged in the altcoin market, with Bitcoin's market dominance exceeding 60%, reaching a new cycle high. Whenever Bitcoin pulls back, altcoins face severe declines. Ethereum and SOL have both dropped about 12% from recent highs, while Ethereum has fallen 40% since the initial ETF rebound. The speculative interest that once supported altcoins seems to have vanished, as reflected in stable funding rates and overall market sentiment being low. With Bitcoin absorbing most of the inflows into crypto assets, altcoins struggle to keep up, and without new catalysts, their prospects for a short-term recovery appear minimal.Even during last week's pullback, Bitcoin's overall resilience since the September lows is noteworthy. In summary, the current market dynamics suggest that the upcoming week will be very eventful. Whether you are a trader, investor, or casual observer, the road to election day is bound to be anything but uneventful.

According to ChainCatcher news, monitored by Spot On Chain, a new Gemini multi-signature custody wallet (address: 0xc96) has recently withdrawn a large amount of various altcoins, specifically including:42,000 ETH, worth approximately $103.8 million;350,000 LINK, worth approximately $3.77 million;200 billion SHIB, worth approximately $3.39 million;400 billion PEPE, worth approximately $3.29 million.The wallet was created 18 days ago, and the most recent activity occurred 8 hours ago.

ChainCatcher news, Into The Cryptoverse founder Benjamin Cowen posted on X: "It seems that the grand finale of the altcoin reckoning is finally here. The altcoin reckoning should conclude by December 2024 (at the latest by the second week of January 2025). It has been a long journey, and many have given up along the way, but this process will always continue."

ChainCatcher news, Meme coin KOL Murad posted on the X social platform, stating that the scale of the new Memecoin is only 1% of the market cap of existing altcoins and their unlocked value. By 2025, the performance of Memecoin will significantly surpass that of altcoins.

ChainCatcher news, Meme coin KOL Murad posted on the X platform stating that Meme coins are a sign of maturity in the crypto industry. Over the past decade, altcoins have basically been speculative tools (or gambling chips), and Meme coins will absorb most of the speculative premium from altcoins.

ChainCatcher news, according to iChainfo monitoring, Ceffu deposited $63.55 million worth of stablecoins and $1.22 million worth of WLD, $1.43 million worth of PEPE, 40.07 ETH, and $195,600 worth of FTM to Binance 10 minutes ago.

ChainCatcher news, NDV co-founder Christian2022.eth posted on platform X stating: "Sold a bit of EIGEN, and bought some SPX6900 (SPX) and HPOS10I ETH (BITCOIN) to start. Better late than never.Just realized I still hold over 5 million dollars in altcoins, and will continue to focus on building Cheems and Ethereum-based meme coins to make them great again."ChainCatcher previously reported, NDV co-founder Christian2022.eth posted on platform X stating: "Really considering selling all altcoin positions to buy meme coins. Should I do this?"

ChainCatcher message, NDV co-founder Christian2022.eth posted on platform X: "I'm really considering selling all my altcoin positions to buy Meme coins. Should I do this?"

According to ChainCatcher news, data from RootData shows that as Bitcoin falls below $62,000, altcoins are experiencing a widespread decline, among which:HMSTR 24-hour decline of 15.1%, current price $0.00049ETHFI 24-hour decline of 13.9%, current price $1.587DYM 24-hour decline of 12%, current price $1.62REZ 24-hour decline of 12%, current price $0.042BB 24-hour decline of 11%, current price $0.319

ChainCatcher message, according to Cryptoslate, multiple analysts claim that altcoins are showing significant breakthroughs, suggesting that the market may be shifting to a phase dominated by altcoins.Technical and on-chain analyst Ali Martinez pointed out that while it is uncertain whether a full altcoin boom has arrived, the current developments represent a good start.Analyst Caleb Franzen shared that altcoins, measured through TradingView indices such as TOTAL.3 and OTHERS, have surpassed important moving averages, particularly the 100-day and 200-day exponential moving averages (EMA). Franzen emphasized that the last time such a breakthrough occurred was in July 2023, during which altcoins used these EMAs as dynamic support to achieve higher highs.

ChainCatcher news, 10x Research stated in its market analysis that there has been a significant shift in market trends following the Federal Reserve's interest rate cuts, with investors' preference for DeFi and high beta assets beginning to rise. Several key themes emerged at the Token2049 conference, hinting at the impact of interest rate cuts on the revival of DeFi, such as the tokenization of real assets showing a decreased market demand for on-chain tokens similar to government bonds, as lower interest rates have made them less attractive.As Bitcoin breaks through $60,000 and aims for $65,000, savvy traders have begun accumulating undervalued altcoins, including TAO, ENA, SEI, APT, SUI, NEAR, and GRT, betting on a strong rebound in the fourth quarter.

ChainCatcher news, according to on-chain data, the large abnormal outflows from the cryptocurrency exchange BingX are still ongoing, with hackers dumping various altcoin assets on-chain and transferring some assets to other addresses.Earlier news, earlier today, the cryptocurrency exchange BingX reportedly suffered a hacking attack, with large abnormal fund outflows detected. Currently, the hacker's address has gradually received assets worth approximately 20 million dollars.

ChainCatcher news, CryptoQuant founder Ki Young Ju posted on the X platform that the crypto industry is in crisis. In the past, the crypto industry itself was like a game. The game abstracts the happy path of humanity, providing a pleasure experience similar to real life by triggering dopamine release. The performance of altcoins in 2024 is bleak. Funds are not flowing into this industry. If we do not create a new game to stimulate traders' dopamine, the crypto industry will face long-term stagnation.Ki Young Ju said, "Some people are even building completely different ecosystems, to the extent that they are classified as belonging to industries outside of crypto. Where have those builders gone who inspire us and explore new technologies? Why did they leave? I don't know. I want to ask Vitalik Buterin."Ki Young Ju added, "It is important to clarify that I am referring to Web3/Crypto, not Bitcoin."

ChainCatcher message, Galaxy Digital's research director Alex Thorn posted on X: "I do believe that a Trump victory would be more beneficial for altcoins compared to Bitcoin, mainly because the regulatory easing would favor altcoins more than Bitcoin."

ChainCatcher news, the Bitfinex Alpha report provides predictions on the potential performance of the cryptocurrency market. As Bitcoin's dominance declines and altcoins show resilience, the report indicates that market dynamics may be shifting.Analysts further explain that the open interest in altcoins has dropped 55% from its historical high, suggesting a decrease in speculative activity and that sellers may be exhausted. The ETH/BTC ratio remains below its 365-day simple moving average, indicating that ETH has generally underperformed since the merge.The report also adds that if Bitcoin's dominance has indeed reached a local top, we may see a period of altcoins outperforming in the coming months, which could lay the groundwork for a bullish fourth quarter if macroeconomic pressures ease.