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 the key support levels of $95,000 and $3,200 respectively.

Despite a pullback over the weekend, the forward volatility remains high. The market expects BTC to possibly maintain a range-bound movement before December, while the short-term focus has shifted 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, which may be related to the potential impact of Trump's supportive policies on cryptocurrencies, expected to take effect next year.

Recently, BTC's market cap share has dropped from 62% to 59%, reflecting a trend where funds may gradually shift from BTC to ETH and other altcoins.

In addition, Michael Saylor hinted today at a possible increase in BTC holdings. The market is watching whether MicroStrategy's new round of purchases will push BTC past the $100K mark; if achieved, BTC may further rise, while altcoins could be affected in the short term. #BTC☀