QCP: Bitcoin faces $100,000 resistance, market focus shifts to Ethereum and other altcoins
ChainCatcher news, according to the latest report released by QCP, the cryptocurrency market fell yesterday, with over 100 million dollars in BTC and ETH positions being liquidated across major exchanges, but both still robustly operate above the key support levels of 95,000 dollars and 3,200 dollars, respectively.Despite a pullback over the weekend, the forward volatility remains high. The market expects BTC to maintain a range-bound fluctuation before December, while the short-term focus shifts to ETH. The ETH risk reversal indicator shows high demand for short-term call options, while the demand for BTC call options is concentrated after December 27, 2024, possibly related to the potential impact of Trump's supportive policies on cryptocurrency, which are expected to take effect next year.Recently, BTC's market cap share has dropped from 62% to 59%, reflecting a trend of funds gradually shifting from BTC to ETH and other altcoins. Additionally, today Michael Saylor hinted at a possible increase in BTC holdings. The market is watching whether MicroStrategy's new round of purchases will push BTC to break through the 100K mark; if achieved, BTC may rise further, while altcoins could be affected in the short term.