The cryptocurrency market continues to attract attention, especially as Bitcoin remains above $100,000. Altcoins are also showing signs of growth, indicating the potential onset of an altcoin season.
Current Situation with Bitcoin
Bitcoin is trading above $103,000, with buyers aiming to push the price toward the all-time high of $109,588. Research firm Santiment reported that Bitcoin whales and sharks, holding between 10 and 10,000 BTC, accumulated 83,105 BTC in the past 30 days, suggesting it may be only a matter of time before a new all-time high is achieved.
Predictions for Major Altcoins
Analysts are also becoming increasingly positive on altcoins. The falling dominance of Bitcoin and USDT, paired with rallies in certain altcoins, suggests an altcoin season may be on the horizon. However, not all experts are optimistic. Alphractal CEO Joao Wedson noted that Bitcoin is in the 'Alpha Price' zone, which could attract profit-taking by long-term holders or whales.
Overall Insights on Cryptocurrency Market
Bitcoin currently faces significant resistance in the $107,000–$109,588 region, and if this level is surpassed, it could pave the way for a move toward $130,000. Meanwhile, altcoins like Ether, XRP, and others may also experience volatility, but short-term corrections are likely.
The cryptocurrency market displays mixed signals, with Bitcoin attempting to set new records and altcoins indicating potential growth. Investors should remain vigilant and assess risks.
