QCP: If Bitcoin's market share falls below the support level of 57.3% and the price remains at 100,000 USD, it will trigger an altcoin season

ChainCatcher news, QCP Capital's latest analysis points out that due to the U.S. CPI data being lower than expected, Bitcoin surged by 4.13% to a high of $100,800. In terms of spot ETFs, Bitcoin ETFs saw a net inflow of $723.2 million in a single day, indicating strong institutional demand.

In the options market, traders are heavily buying call options with strike prices between $100,000 and $110,000 expiring in January, while the highest open interest is for $120,000 options expiring in March.

As Bitcoin's market cap share drops from 58.6% to 57.4%, QCP Capital expects that if it falls below the support level of 57.3% and Bitcoin remains around $100,000, it may trigger an altcoin season, with funds potentially rotating from Bitcoin to other cryptocurrencies like Ethereum.