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To think that just three days ago Bitcoin was teetering on the edge of a corrective phase, struggling to hold above $100K—now it’s knocking on the door of yet another all-time high. Since the Trump/Musk fallout, Bitcoin has surged over 10%, dragging the rest of the market into a sea of green as altcoins ride the wave of Bitcoin’s momentum.
Despite the altcoin rally, Bitcoin dominance continues to climb, now quietly approaching the 65% mark once again. It’s a clear signal: Bitcoin remains the market’s primary engine, and the rotation trade into altcoins isn’t quite here yet. Meanwhile, in traditional markets, the S&P 500 has closed back above 6,000 for the first time since late February. Silver continues to outperform in the commodities space, while Tesla saw a bounce after Trump clarified he wasn’t abandoning his Tesla—going as far as to praise Starlink and wish Elon Musk well.
US–China trade negotiations resumed this week, with yesterday’s session reportedly lasting over six hours and discussions set to continue today. Any developments here could feed into macro volatility in the coming sessions.
Bitcoin now looks poised to enter price discovery and blue-sky territory. Sentiment continues to improve, with the Fear & Greed Index climbing to 71, flirting with extreme greed, another clear sign the bulls remain firmly in control. If momentum holds and macro risks stay muted, a fresh all-time high this week looks well within reach.
Stormrake Spotlight: Bittensor (TAO) ($420)
Stormrake Spotlight: Bittensor (TAO) ($420)
TAO has rallied nearly 10% in the past 24 hours, reclaiming the 21EMA and keeping momentum squarely with the bulls. Immediate resistance sits at the CPR zone around current levels, but a breakout above the blue horizontal confluence should open the door to $500. A move above would confirm a bullish structure in play.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
