The post Bitcoin Price Rebounds Above Key Supply Level Around $116k; What’s Next for Altcoins? appeared first on Coinpedia Fintech News
Bitcoin (BTC) price led the wider altcoin in a mild rebound on Thursday against the U.S. dollar. The flagship coin surged as much as 2% in the past 24 hours to reclaim a crucial support level above $116k during the mid-North American session.
Ethereum (ETH) led the wider altcoin market in a mild rebound amid the anticipated crypto summer. Furthermore, the crypto market has attracted more organic investors amid regulatory clarity in major jurisdictions led by the United States, and China.
Top Reasons Why Bitcoin and Altcoins Gained Today?
Bitcoin price led the wider altcoin market in a mild rebound during the past 24 hours fueled by a basket of fundamentals amid bullish technicals. Earlier on Thursday, crypto traders reacted on the news that the U.S. President Donald Trump will sign an executive order that aims to allow private equity, real estate, cryptocurrency and other alternative assets in 401(k)s, which has over $8.7 trillion in retirement accounts.
Bitcoin’s rebound above $116k, which is a major supply sell-wall, triggered a renewed buying pressure. The bullish speculative greed happened amid the return of cash inflow to the U.S. spot BTC ETF issuers.
Meanwhile, Bitcoin and the wider altcoin market gained bullish sentiment on Thursday after the Bank of England announced the Monetary Policy Committee voted by a majority of 5-4 to cut interest rates to 4 percent. Crypto traders begun factoring in a potential rate cut by the Federal Reserve in the United States before the end of this year.
Has the 2025 Altseason Started?
With Bitcoin price expected to rally furthermore to hit a new all-time high in the coming weeks, the altcoin industry is much more likely to outshine. Furthermore, the 2025 crypto rally has been likened to the 2017 bull market, which was filed by retail FOMO.
According to market data from CoinGlass, while Bitcoin price rallied 65 percent in August 2017, Ethereum price recorded a 92 percent surge in the same month. With the ongoing demand for altcoins by institutional investors, as observed through the altcoin treasuries, a parabolic 2025 altseason is around the corner.
