The Bitcoin price recently reached new highs around $111,800 but is currently consolidating below $111K, indicating a potential correction phase. Despite this, BlackRock has acquired 8000 BTC valued at over $877 million, marking the largest inflow in May. Retail traders have not yet entered the market, hinting at further upside potential.
Altcoins like Ethereum, XRP, and Cardano have been consolidating at a slower pace, delaying the start of an Altseason. Market capitalization, excluding Bitcoin and Ethereum, is showing signs of recovery and is just 20% away from its peak. A breakthrough above a crucial resistance level could propel the Altcoin market cap to new heights.
The recent market surge has pushed levels above key indicators like the conversion line and baseline. A continued uptrend could lead to a bullish crossover in the Ichimoku cloud, potentially driving levels towards $1.13 trillion and kickstarting Altseason 2025.
Bitcoin dominance is dropping again after briefly surpassing 65%, indicating a shift in liquidity from Bitcoin to altcoins. Sustained support between $105K to $108K for Bitcoin could trigger a robust Altseason in the latter half of 2025 as altcoins gain momentum.
