Bitcoin once again flourished, defying the turbulence of the global macroeconomics and pushing it into unknown territory. Earlier this week, the world’s largest cryptocurrency hit a new all-time high of $112,000, boosting investor optimism and suggesting that the bull market trend remains the same. Bitcoin’s role as a resilient digital asset continues to attract capital as concerns about inflation, rising interest rates and geopolitical tensions continue to exist.
But despite BTC reaching new highs, the wider Altcoin market tells a different story. Top analyst Daan shared a key technical observation and pointed out that the total alternative token market capitalization is still far from its 2021 peak. Despite recent recovery rates, Altcoins is still well below its all-time high. This difference highlights the recurring theme of this cycle, namely Bitcoin’s dominance.
Daan pointed out that the Altcoin market’s underperformance stems from its failure to exceed the critical horizontal resistance zone. Until that level is convincingly violated, Altcoins may continue to lag behind Bitcoin’s explosive moves. For now, BTC remains a clear market leader, and many believe that unless Bitcoin mergers and capital begin to spin more aggressively into alternative assets, Altseason won’t be fully ignited. Investors are paying close attention to signs of this shift.
Bitcoin finds support under ATH, while Altcoins is hard to catch up
Bitcoin has retreated slightly as the Bulls try to build short-term support and now trades around $107,000 after reaching a new all-time high of $112,000. The move is underway with ongoing macroeconomic uncertainty, including escalating trade tensions and a persistent high U.S. treasury production, which continue to make up for traditional markets. Despite the answers, bullish sentiment remains strong, with many investors seeing DIP as a healthy correction in a broader uptrend.
Daan pointed out that there is a serious division between Bitcoin and the wider crypto market. Despite the influx of BTC in new territory, the total alternative token market capitalization remains above 30% from its all-time high in 2021. Compared to AltCoins, this highlights the obvious strength of Bitcoin in the cycle, despite recent rebounds, despite recent rebounds.
Daan’s technical analysis highlights the importance of key horizontal resistance levels on the overall chart. AltCoins may continue to perform poorly relative to Bitcoin until this threshold is broken. Throughout the cycle, BTC’s power and momentum continues to outweigh the rest of the market, and this trend may persist unless structural changes occur.
Weekly chart analysis: confirm the breakthrough, the bulls are in control
Bitcoin’s weekly chart shows that its decisive breakthrough surpassed its previous all-time high at $109,000, confirming the strength of the ongoing bullish trend. BTC reached a height of $112,000 before facing resistance and has now consolidated about $107,500. This level is closely aligned with the breakout zone, turning previous resistance into potential support zones, a classic bullish retest setup.
The candle structure shows strong bullish momentum and validates the breakthrough. BTC continues to be well above the 34-week EMA ($87,938), and the company has been dynamic support throughout the macro uptrend. All major moving averages (50, 100 and 200 weeks) are trending upward, enhancing the long-term bullish structure.
It is worth noting that the end of each week will be crucial. Holding more than $103,600 confirmed the breakthrough and could trigger new purchase interest, which could lead to a drive towards the $120,000-$125K range. If the current levels cannot be held, BTC may be retested between $95,000 and $100,000 to get support.
Overall, this trend remains bullish on the higher time frames, despite short-term volatility, Bitcoin’s structural signal continues to extend towards new highs and is supported by strong macro headwinds and strong chain-chain indicators.
Featured images from DALL-E, charts from TradingView
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