BTCUSD Global markets rallied last night after a weaker-than-expected CPI report eased fears of rising inflation. BTC jumped 4.13% to a high of 100.8K before stabilising just below the 100K milestone. The same level of optimism was also seen in equities as S&P 500 rose 1.83% and Nasdaq gained 2.27%.
Both BTC and ETH spot ETFs experienced healthy inflows yesterday with BTC spot ETFs recording a staggering $723.20 million worth of inflows. The swift recovery in inflows reflects strong institutional demand and suggests an exciting outlook for crypto.
On the options front, BTC JAN calls dominated the market yesterday as traders adopted an increasingly bullish view, snapping up contracts with strikes ranging from 100K to 110K. This is a promising sign as we head into March which currently holds the highest concentration of open interest at the 120K strike. Given all this buzz, could altcoin season be around the corner?
With BTC dominance plummeting from 58.6% to 57.4%, altcoins are expected to outperform as profits rotate into ETH and other altcoins. For confirmation of altcoin season, BTC dominance will need to break below the support at 57.3% while hovering around the 100K milestone.
BTCUSDT The Thai Securities and Exchange Commission is considering approving a Bitcoin exchange-traded fund (ETF) to be listed on the local bourse. Currently, Thai investors can only access overseas Bitcoin ETFs through a fund of funds product launched by One Asset Management in mid-2024
BTCUSDT Bitcoin spot ETFs had a total net inflow of $755 million on January 15, the first net inflow after net outflows in the past four days. Fidelity ETF FBTC had a net inflow of $463 million per day, and Ark Invest and 21Shares' ETF ARKB had a net inflow of $139 million per day
the total net inflow of Ethereum spot ETFs was $59.7821 million. The net inflow of Fidelity ETF FETH was $29.3164 million, and the net inflow of BlackRock ETF ETHA was $19.8486 million.
DXY Major rejection off of that $110 level as predicted, however the asset found support temporarily above $108, still an inflated number. I anticipate further losses to the dollar index.