On November 25, news reported that the cryptocurrency market fell yesterday, with over 100 million dollars' worth of BTC and ETH positions being liquidated across major exchanges. However, both remain robustly operating above key support levels of 95,000 dollars and 3,200 dollars respectively. Despite some pullback over the weekend, forward volatility remains high. The market expects BTC to possibly maintain range oscillation before December, while the short-term focus shifts towards 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 on cryptocurrency, which are expected to take effect next year. Recently, BTC's market capitalization share has dropped from 62% to 59%, reflecting a trend of funds gradually shifting from BTC to ETH and other altcoins. Additionally, today Michael Saylor hinted at the possibility of increasing BTC holdings. The market is focused on whether MicroStrategy's new round of purchases will push BTC past the 100K threshold, and if achieved, BTC may rise further, while altcoins could be affected in the short term.

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