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, CryptoQuant CEO Ki Young Ju stated on social media, "I agree with everything meme coin enthusiasts talk about, except for the meme coin cycle.Social media has evolved from being centered around relationships with friends and family to being centered around shared interests, and the next step is economically driven social media, which is also the vision of Web3. Memecoin is just a temporary combination of economy and common interests in the transitional phase of social media.Soon, we will see an era where economic interests align with the social value creation of the internet, and that is when the real altcoin season will begin."

ChainCatcher news, Matrixport released a research report stating that Bitcoin's market dominance continues to rise, now reaching 58%, indicating that the altcoin boom has not yet arrived. Although there are over 20,000 cryptocurrencies in the market, attention remains highly concentrated on Bitcoin. Bitcoin's dominance suggests that the inflow of ETF funds has not significantly impacted altcoins, while also implying that retail investors have not yet entered the market on a large scale.Bitcoin's trading volume has doubled from $10 billion to $20 billion in 2023, reaching $20 billion to $40 billion, further highlighting the increasing influence of Bitcoin. From a risk-adjusted perspective, Bitcoin remains one of the most attractive trades in the current crypto market.

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 news, DWF Labs co-founder Andrei Grachev posted on X stating: DWF Labs' assets under management have increased tenfold in the past 10 days. The goal is to reach $50 billion in assets under management in the next two years, capturing 30% of the market share of all liquid altcoins.