QCP: In order to confirm the return of Altseason, ensure that BTC's market dominance falls below 57.3% while maintaining a price stability near $100,000.

BlockBeats News, January 16th, QCP released a daily market observation report, stating that last night, the global market saw a significant rebound due to better-than-expected Consumer Price Index (CPI) data, easing concerns about rising inflation. Bitcoin (BTC) rose by 4.13%, reaching a high of $100,800 and then stabilizing below the key level of $100,000.

Likewise, the stock market also showed optimism, with the S&P 500 index rising by 1.83% and the Nasdaq index rising by 2.27%. Both BTC and ETH spot ETFs saw strong inflows yesterday, with the BTC spot ETF recording a massive inflow of $723.2 million.

This rapid influx of funds reflects strong institutional demand, implying an optimistic outlook for the cryptocurrency market. In the options market, yesterday, BTC January call options dominated the market. Traders took increasingly bullish positions, rushing to buy contracts with strike prices between $100,000 and $110,000. This is a positive signal, especially as March approaches, with the highest open interest currently seen in the $120,000 strike price options for that month.

Given this series of momentum, Altseason may be on the horizon. With BTC's market dominance dropping from 58.6% to 57.4%, altcoins are expected to perform well as profits flow into ETH and other altcoins. To confirm the onset of Altseason, BTC's market dominance needs to fall below the 57.3% support level while remaining near the key level of $100,000.