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For the third day in a row, we’ve seen Bitcoin set a new all-time high, now sitting at $118.8k. Ethereum also broke through $3,000 for the first time since late January. Bulls are dominating the space — Bitcoin’s price is still rising while Bitcoin dominance is falling, and the altcoin market cap keeps breaking out. These are strong signs that point towards a prolonged altseason.
Despite the growing altcoin market cap yesterday, it was a mixed bag for individual coins. Ethereum ended the day up just 0.22% after climbing nearly 3% intraday. Solana and Sui both closed negative, but the real altcoin leader was XRP, which surged over 7% on the day after being up more than 16% intraday.
Markets are extremely bullish. Sentiment is back in extreme greed with a reading of 79, following a strong end to the previous week. We now head into a weekend that may see some consolidation ahead of the first ever ‘Crypto Week’ dubbed by the US House. The week will focus on key digital asset legislation — another sign that crypto is gaining mainstream political traction. While many assume the week will be bullish for crypto, if this current administration has taught us anything, it’s that you never quite know what comes next.
Regardless of how the coming week unfolds, Bitcoin has had the breakout it needed. We can expect the next few weeks and months to deliver on the promise of what 2025 was expected to be. Should we see a pullback next week, it may be an ideal chance to accumulate more Bitcoin and altcoins during this bull market.
Stormrake Spotlight: Hyperliquid (HYPE) ($46.27)
Stormrake Spotlight: Hyperliquid (HYPE) ($46.27)
