Bitcoin Nears All-Time High as Altcoins Skyrocket—Is Altseason Finally Here?

Bitcoin surged past $107,000 on strong buying momentum, reaching a high of $107,201.78 before pulling back slightly. The move brings it within just over 2 percent of its all-time high, reinforcing its lead role in the current crypto rally.

The asset trades confidently above key support levels, with the 20-day exponential moving average at $102,000 and the 50-day EMA at $96,200. Bitcoin bounced back strongly from its April dip below $75,000, making this one of its most substantial monthly recoveries.

During that fall in oil prices, uncertainty grew about the global economy due to U.S. President Donald Trump’s tricky trade moves. President Trump has softened his stance and agreed to cooperate, restoring investor confidence and driving more capital into risky assets like Bitcoin.

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Altcoin Surge Gains Strength as Bitcoin Profit-Taking Sparks Rotation

Ethereum has gained 58 percent in the past 30 days, while Dogecoin is up 45 percent. Solana followed with a 23 percent climb during the same period. Smaller-cap tokens and meme coins have outpaced majors, with several posting triple-digit growth.

Data from Glassnode shows that the sharp rise in Bitcoin has caused many investors to cash in their profits. This frequently makes traders turn to altcoins to gain higher returns. As the Bitcoin Realized Cap surged past $900 billion, it concluded that more money was being poured into cryptocurrencies.

TOTAL2, which represents the Total Crypto Market Cap without Bitcoin, is showing signs of breaking out. It bounced off of the $994 billion point and also broke important Fibonacci retracement levels. Energies are currently nearing the 0.786 zone, at $1.18 trillion, and the next goal is $1.23 trillion.

Technical signs are pointing toward higher prices, with the RSI currently at 62, indicating a bullish market that is not yet overbought. The MACD is now forming a large gap with its rising green bars, proving that the price is headed up.

Despite Bitcoin’s rapid growth fueling market excitement, altcoins are catching more attention. As capital moves and there are noticeable technological trends, an altseason is on the horizon.

Also Read: XRP Lawyer Slams Bitcoin Maxis After Ripple CEO Snub by Senator

 

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