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QCP Capital: CPI data is lower than expected, possibly ushering in the altcoin season

QCP Capital: CPI data is lower than expected, possibly ushering in the altcoin season

Bitget2025/01/16 09:38

QCP Capital announced on its official channel that the global market rebounded after the release of a lower-than-expected Consumer Price Index (CPI) report, alleviating concerns about escalating inflation. Bitcoin subsequently soared by 4.13%, reaching a high of $100,800 before stabilizing slightly below $100,000. The stock market also showed optimism with the S&P 500 index rising by 1.83% and the Nasdaq index increasing by 2.27%. Yesterday, both Bitcoin and Ethereum spot ETFs saw healthy capital inflows, with an astonishing inflow into Bitcoin spot ETFs reaching $723 million USD. The rapid recovery of capital inflows reflects strong institutional demand and indicates an exciting future for the cryptocurrency market.

In terms of options markets, yesterday's dominant position was held by January call options for Bitcoin as traders became increasingly bullish and rushed to purchase contracts priced between $100,000 and $110,000 USD. As we enter March (currently holding highest open interest in contracts at a strike price of $120k), this is a positive sign.

As bitcoin's market share plummeted from 58.6% to 57.4%, profits flowed towards Ethereum and other altcoins which are expected to perform better.
To confirm the arrival of "altcoin season", bitcoin's market share needs to break through support at 57.3%, while maintaining fluctuations around $100k USD.

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