Bitcoin continues to gain traction in the cryptocurrency market, showing significant growth. Recent analytical forecasts suggest possible new all-time highs.
Bitcoin's Growth Signals
In the past month, Bitcoin has risen by 24.9%, and over the last week, it has gained more than 10.3%. A key factor is the successful bounce off the 1-week 50 EMA, which historically precedes every new all-time high. Analyst CrypNuevo suggests that a new ATH may be near.
Potential Altcoin Surge
Altcoins are also showing a positive trend. Over the past week, Ethereum has risen by 39.7%, Solana by 20%, BNB by 13.1%, and XRP by 11.1%. However, despite the recent gains, Ethereum is still recovering from losses and currently sits at —23.97% YTD.
Bitcoin Dominance and Trends Ahead
Bitcoin's dominance peaked at 65.37% on May 7, but has since decreased to 62.69%. This decline may indicate a potential altcoin breakout. The setup is clear: Bitcoin sets a new ATH, dominance peaks, and altcoins begin to surge.
Bitcoin shows confident signs of growth, creating conditions for a potential new all-time high. Altcoins are also on the brink of growth, and declining Bitcoin dominance could herald the activation of an altcoin season.
