QCP Capital, a cryptocurrency investment firm based in Singapore, pointed out that after last week's market washout, the current market is entering a sideways volatility phase.

This Friday, nearly $20 billion worth of Bitcoin and Ethereum options are set to expire, which accounts for almost half of the total open interest on Deribit.

The expiration of options is likely to trigger a quarter-end volatility sell-off, especially as the current market is in a sideways state and sellers continue to roll their short positions, increasing this risk.

If Bitcoin can break through the $100,000 mark, market volatility may remain stable; conversely, altcoins may have the opportunity to catch up with the upward trend.

At this stage, Bitcoin's market share is 58%, and attention should be paid to whether funds flow into the altcoin sector to confirm if the market trend has changed.

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