- Analysts predict altcoin rallies if Bitcoin surpasses $110,000, though Bitcoin’s 63.4% dominance delays broader altcoin momentum.
- The Altcoin Index sits at 18, signaling Bitcoin’s market control and altcoins’ struggle to gain sustained traction.
Bitcoin traded above $94,000 on Monday, reinforcing its position as a perceived stable asset comparable to gold or the U.S. dollar. Analysts at NYDIG Research noted a shift in how investors view Bitcoin, moving from speculative trading toward long-term value storage. This trend follows broader economic developments, including recent U.S. trade policies.
XRP Gains 8% on ProShares ETF News
XRP rose nearly 8%, leading major altcoins after regulators approved a ProShares ETF tied to three futures products set to launch April 30. Cardano’s ADA increased over 3%, while BNB Chain’s BNB and Solana saw smaller gains. Monero initially surged 40% to $371 but later settled at $268, up 17% in 24 hours. Ether’s price showed little change.
Analysts Debate Altcoin Rally Timing
Arthur Hayes, former BitMEX CEO, suggested altcoins could rally if Bitcoin surpasses its prior peak of $110,000. He cautioned that not all altcoins would benefit equally. Analyst Moustache argued the worst of the downturn has passed, predicting upward momentum for altcoins.
Crypto Rover observed a 140-day downtrend break, signaling possible growth. Wimar.X forecasted a historic altcoin surge, citing a triple-bottom pattern and a potential $15 trillion market cap. Such projections carry risk due to market volatility.
Bitcoin currently holds 63.4% of the total cryptocurrency market value. The Altcoin Index, which measures altcoin performance against Bitcoin, stands at 18—a level indicating limited strength. This suggests Bitcoin’s dominance may delay sustained altcoin gains.
Bitcoin (BTC) is currently trading at $94,404, showing a +0.68% daily gain, a robust +10.80% increase over the past week, and a +11.87% rise over the past month. Year-to-date, Bitcoin is slightly positive with a +1.13% gain, and over the past year, it boasts a strong +48.86% return. Bitcoin’s market capitalization is around $1.87 trillion, with a 24-hour trading volume of $32.83 billion, and it is fast approaching the critical psychological level of $100,000.
From a technical perspective, Bitcoin is currently trading within a strong bullish ascending channel, having broken key resistance levels above $90,000. Immediate resistance is now seen around $96,000–$98,000, and a clean breakout could push BTC toward the $100,000–$106,000 range, where heavy profit-taking may occur.
If price faces rejection at current levels, downside support is located at $91,800, with deeper retracement potential toward $88,000. Technical indicators suggest a neutral-to-bullish trend, with high momentum but early signs of potential exhaustion.
Fundamentally, Bitcoin has been bolstered by massive institutional inflows, as spot Bitcoin ETFs attracted over $3.4 billion in net inflows last week alone, led mainly by U.S. markets. ETHNews analysts highlight that Bitcoin’s consolidation around the current levels is “healthy,” and the potential for a global macro-driven rally is growing, particularly given central banks’ interest in alternative assets like gold and Bitcoin.
