itcoin">Bitcoin made another attempt to break through the crucial $110,000 resistance level but faced rejection after briefly touching $110,500 earlier this week. The leading cryptocurrency recovered impressively from last week’s correction that saw it drop below $100,500 following tensions between President Trump and Elon Musk. Despite the recent pullback to just under $110,000, itcoin">Bitcoin has maintained strong momentum since the weekend recovery, though it needs to overcome this key resistance to establish a new all-time high.
While itcoin">Bitcoin consolidates near major resistance, the altcoin market has exploded with remarkable gains across multiple tokens. HYPE continues its meteoric rise, reaching nearly $43 and setting consecutive all-time highs, cementing its position as the standout performer in the current market cycle. However, established altcoins are also delivering impressive returns, with Uniswap (UNI) leading the charge with a spectacular 16% surge, followed closely by SPX’s 15% pump and notable gains from XDC, Optimism, and Arbitrum.
The broader altcoin rally extends beyond smaller tokens to major market players, with AAVE, itcoin">Bitcoin Cash, Chainlink, Solana, and Dogecoin all posting solid gains of up to 7%. Ethereum pushed toward the $2,800 level before encountering resistance, while XRP continues battling the $2.30 price barrier. This widespread altcoin strength has contributed to itcoin">Bitcoin’s dominance falling below 61%, suggesting investors are rotating capital into alternative cryptocurrencies.
The overall cryptocurrency market has responded positively to this altcoin momentum, with total market capitalization surging by nearly $50 billion to reach $3.580 trillion. This significant increase demonstrates renewed investor confidence and suggests the market may be entering a phase where altcoins outperform itcoin">Bitcoin, potentially signaling the next stage of the current bull cycle.
