PANews reported on January 16 that QCP Capital, a Singapore-based crypto investment institution, said in a statement today that global markets rebounded last night after a lower-than-expected consumer price index (CPI) report was released, easing market concerns about rising inflation. Bitcoin subsequently surged 4.13% to a high of $100,800 before stabilizing just below $100,000. The stock market also showed optimism, with the S&P 500 up 1.83% and the Nasdaq up 2.27%. Yesterday, both Bitcoin and Ethereum spot ETFs saw healthy inflows, with Bitcoin spot ETFs seeing a staggering inflow of $723.2 million. The rapid recovery in inflows reflects strong institutional demand, boding well for the future prospects of the cryptocurrency market.

In the options market, Bitcoin January call options dominated yesterday, with traders becoming increasingly bullish and snapping up contracts between $100,000 and $110,000. This is a positive sign as we head into March, with the $120,000 strike currently seeing the highest open interest. Given this surge, is altcoin season on the horizon? With Bitcoin’s market share plummeting from 58.6% to 57.4%, altcoins are expected to outperform as profits flow to Ethereum and other altcoins. To confirm the arrival of altcoin season, Bitcoin’s market share needs to break below the 57.3% support level while Bitcoin price remains volatile around $100,000.