QCP Asia analysis: The seasonal index of altcoins has exceeded 50, and the open interest of ETH perpetual contracts has surged to $28 billion in a week

According to QCP Asia's analysis today, the seasonal index of altcoins has exceeded 50, the highest since December last year, and the open interest of ETH perpetual contracts has soared from $18 billion to $28 billion within a week. There are signs of institutional led fund rotation, driven by the GENIUS bill signed last Friday, which introduces a clear regulatory framework for stablecoin issuance and attracts the attention of enterprise treasuries to L1 chains such as ETH once again. The inflow of ETH spot ETF funds has surpassed BTC for two consecutive days, and the market is optimistic about the possibility of the approval of the pledged version ETF. The ETH options market also showed an increase in bullish sentiment, with more bets in the fourth quarter. In the past week, BTC's dominance rate has fallen to 60%, while ETH's market share has increased to 11.6%, indicating that the counterfeit coin season may have started.