QCP Capital stated on its official channel that global markets rebounded after the release of a lower-than-expected Consumer Price Index (CPI) report, alleviating concerns about rising inflation. Bitcoin subsequently soared 4.13%, reaching a high of $100,800, and then stabilized slightly below $100,000. The stock market also showed optimism, with the S&P 500 index rising 1.83% and the Nasdaq index climbing 2.27%.
Yesterday, both Bitcoin and Ethereum spot ETFs experienced healthy inflows, with Bitcoin spot ETF inflows reaching an astonishing $723.2 million. The rapid recovery of capital inflows reflects strong institutional demand, indicating an exciting future for the cryptocurrency market.
In the options market, Bitcoin January call options dominated yesterday, with traders becoming increasingly bullish, eagerly buying contracts with strike prices between $100,000 and $110,000. As we enter March (currently, the open interest for the $120,000 strike price is the highest), this is a positive sign.
As Bitcoin's market share plummeted from 58.6% to 57.4%, profits flowed into Ethereum and other altcoins, which are expected to perform better. To confirm the arrival of altcoin season, Bitcoin's market share needs to fall below the support level of 57.3%, while Bitcoin's price remains fluctuating around $100,000.