Bitcoin course bounces around $ 110,000 while Altcoins rise explosively

The cryptomarkt is again experiencing a spectacular week. While the Bitcoin Koers Multiple attempts made to break the $ 110,000 limit, Altcoins steel the show with impressive price increases and new all-time highs. Analysts see signs of further increase, but also warn of important technical thresholds.

Bitcoin is struggling with a new peak

After a temporary dip below $ 100,500 last week – partly caused by a public collision between Donald Trump and Elon Musk – Bitcoin recovered strongly. In the weekend the course Back to a bandwidth from $ 104,000 to $ 106,000. With the start of the new trade week, the Bitcoin course began to rise again. On Tuesday, Bitcoin exceeded $ 110,500 for the first time in two weeks, but was unable to hold on to this profit. Currently, the race is just below $ 110,000.

According to Markus Thielen from Matrixport, the upward movement is remarkable. He had expected a quiet summer, but now sees that new capital is flowing into the market. This points to a stronger than expected faith in the cryptomarket, despite concerns about economic factors such as inflation and interest.

Thielen notes that Bitcoin has shown a bullish outbreak from a so-called ‘consolidation triangle’, a pattern that usually points to continuation of the trend. It is now important that Bitcoin manages to maintain itself above the critical level of $ 105,075. According to him, this acts as a support zone and as a springboard for a further increase.

Sales panic is not forthcoming

In addition to technical signals, on-chain data also points to a healthier market sentiment. Out figures Analysis company Glassnode shows that the profit made of long-term holders has fallen by no less than 89%, from around $ 126 million to $ 13.6 million based on the 24-hour average.

This sharp decrease indicates that experienced investors – who have been holding their bitcoins for more than a year – are currently less inclined to cash in on their profits, even now that the rate is back at a high level. In contrast to the top of the end of May, this group of investors now seems to have more confidence in further increases.

This reduced range of Bitcoin sold ensures less downward pressure on the price. In combination with the new intake of capital, this can form the basis for a persistent bullrun.

Altcoins take the lead

In the meantime, Altcoins attract the attention of investors en masse. The total market capitalization of the cryptomarkt rose by almost $ 50 billion in 24 hours and is now $ 3,580 billion. The dominance of Bitcoin fell below 61%, which means that altcoins perform relatively stronger.

One of the most striking risers is Underp (Uni), which took the lead with an increase of 16%. Also SPX (+15%), XDC (+13%), on and ARB (both +12%) showed impressive profits. The project HYPE Keep an eye on the eye by again reaching an all-time high of almost $ 43.

With the larger altcoins we also see strong increases. So booked GHOSTBitcoin Cash (BCH), Chainlink (LINK), Solana (SOL) and Dogecoin (DOGE) price profits up to 7%. Ethereum even managed to tap the $ 2,800 limit before it met resistance, while XRP has difficulty breaking over $ 2.30.

Look at the coming days

The coming trading days will be crucial for the direction of the Bitcoin course. If the critical support point of $ 105,075 stands, a new attack on the all-time high in sight looks like. At the same time, interest in Altcoins remains high, which can lead to a further shift in market dominance.

In the meantime, investors look with interest at the American inflation report and the interest rate policy of the Federal Reserve. Expectations for interest rates have recently been adjusted, which can have an impact on risky assets such as crypto in the short term. Nevertheless, the current market strength indicates that the crypto world seems to be choosing its own path – with Bitcoin as a leader so far, but with altcoins as emerging stars.