CoinVoice has learned that according to the latest report released by QCP, the cryptocurrency market fell yesterday, with over $100 million in BTC and ETH positions being liquidated on major exchanges. However, both remain robustly operating above key support levels of $95,000 and $3,200, respectively.
Despite a pullback over the weekend, forward volatility remains high. The market expects BTC to maintain a range-bound movement 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 for cryptocurrencies, which are expected to take effect next year.
Recently, the market cap share of BTC has dropped from 62% to 59%, reflecting a trend where funds may gradually shift from BTC to ETH and other altcoins. Additionally, today Michael Saylor hinted at potentially increasing his BTC holdings. The market is watching whether MicroStrategy's new round of purchases will drive BTC to break through the $100K mark; if achieved, BTC may rise further, while altcoins might be affected in the short term. [Original link]
