Cryptocurrency markets have kicked off the week with a strong bullish momentum, fueled by increased institutional interest and positive price trends, especially for Bitcoin.
Increase in Bitcoin Interest
On Saturday, Bitcoin (BTC) reached a peak of $104,900, which is only 4% below its all-time high. The price surge followed President Donald Trump's announcement of progress in US-China trade talks. Trump stated on his social media platform that "a very good meeting today with China" occurred.
Altcoin Market Reacts Vigorously
While Bitcoin is capturing attention, altcoins have also shown significant gains. Ethereum (ETH) climbed to $2,536.25 with an 8.7% increase. Meanwhile, meme coins like Dogecoin have surged by 14.9%.
Economic Consequences of Trade
The decrease in Bitcoin's market dominance to 63.89% indicates a possible rotation of capital into altcoins, which many analysts interpret as the onset of 'altcoin season.' At the same time, high-profile economic officials from the US and China are set to meet in Geneva for continued trade discussions.
Cryptocurrency markets continue to show momentum thanks to positive news and growing interest from large investors, fostering confidence among participants.
