TechFlow news, January 16 — QCP Capital's latest analysis indicates that Bitcoin surged 4.13% to a high of $100,800 following weaker-than-expected U.S. CPI data. On the spot ETF front, Bitcoin ETFs recorded a single-day net inflow of $723.2 million, reflecting strong institutional demand.
In the options market, traders are heavily buying January-expiry call options with strike prices between $100,000 and $110,000, while the highest open interest is seen in March-expiry options at the $120,000 strike. As Bitcoin's market dominance declines from 58.6% to 57.4%, QCP Capital anticipates that once it breaks below the 57.3% support level and Bitcoin remains around $100,000, a potential "altcoin season" could begin, with capital rotating from Bitcoin into other cryptocurrencies such as Ethereum.
