This Analyst Has Called a Bitcoin Dip to $92,000; And He’s Got Proof

• Altcoins like ETH and SOL are still underperforming against Bitcoin.
• On-chain data suggests the market may be entering overheated territory soon.
• Analysts expect either sideways movement or a mild price correction.

Bitcoin made headlines in May after breaking its earlier all-time high. On May 21, 2025, it jumped to $110,797, beating its previous record of $109,588 set in January. The very next day, it climbed even higher to $111,980, almost touching $112,000. 

This move comes after a slow first quarter for the market. Back in early April, Bitcoin was trading around $74,500 during rising US-China trade tensions. Since then, its price has steadily climbed, making a strong recovery. At the time of writing, Bitcoin is trading at$104,820. 

While Bitcoin has gained over 50% in six weeks, major altcoins Ethereum (ETH) and Solana (SOL) haven’t managed to keep up. Even with a 97% bounce from April’s lows, they remain far below their past highs. This has pushed Bitcoin dominance higher, reaching 65% in May 2025, a level last seen in 2021. But now that the market is entering a new month, there is uncertainty about how Bitcoin and altcoins will perform.

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