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Global markets rallied last night after a weaker-than-expected CPI report eased fears of rising inflation. BTC jumped 4.13% to a high of $100.8K before stabilising just below the $100K milestone. The same level of optimism was also seen in equities as S&P 500 rose 1.83% and Nasdaq gained 2.27%.

Both BTC and ETH spot ETFs experienced healthy inflows yesterday with BTC spot ETFs recording a staggering $723.20 million worth of inflows. The swift recovery in inflows reflects strong institutional demand and suggests an exciting outlook for crypto.

On the options front, BTC JAN calls dominated the market yesterday as traders adopted an increasingly bullish view, snapping up contracts with strikes ranging from $100K to $110K. This is a promising sign as we head into March which currently holds the highest concentration of open interest at the $120K strike. Given all this buzz, could altcoin season be around the corner?

With BTC dominance plummeting from 58.6% to 57.4%, altcoins are expected to outperform as profits rotate into ETH and other altcoins. For confirmation of altcoin season, BTC dominance will need to break below the support at 57.3% while hovering around the 100K milestone.