Will BTC Hit 100k, or Is the Focus Shifting to ETH and Alts? 👀
Crypto markets dipped as over $100M in BTC and ETH positions were liquidated, yet both assets remain above key support levels ($95k for BTC, $3200 for ETH). Backend volatility remains elevated, with BTC expected to trade sideways until December. Meanwhile, ETH sees growing interest, as risk reversals favor frontend Calls. BTC Calls, on the other hand, are gaining traction for 27DEC24 onward, driven by anticipated pro-crypto policies from Trump next year.
BTC dominance has slipped from 62% to 58.79%, reflecting a gradual rotation to ETH and #altcoins as BTC faces a significant sell wall at $100k. Despite strong ETF inflows and bullish IBIT options, BTC’s ability to breach the milestone remains uncertain. Michael Saylor’s hint of further BTC purchases adds intrigue, as the market speculates whether it could trigger a breakout or maintain current dynamics with a shift to alts.
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