Bitcoin is thriving once again, defying global macroeconomic turbulence and pushing into uncharted territory. Earlier this week, the world’s largest cryptocurrency hit a new all-time high of $112,000, reinforcing investor optimism and signaling that the bull trend remains intact. As fears of inflation, rising interest rates, and geopolitical tensions persist, Bitcoin’s role as a resilient digital asset continues to attract capital.
However, while BTC reaches new highs, the broader altcoin market tells a different story. Top analyst Daan shared a key technical observation, noting that the TOTAL Altcoin Market Cap is still far from its 2021 peak. Despite recent recoveries, altcoins remain well below their all-time highs. This divergence highlights a recurring theme of this cycle—Bitcoin’s dominance.
Daan pointed out that the altcoin market’s underperformance stems from its failure to break above a key horizontal resistance zone. Until that level is convincingly breached, altcoins may continue to trail behind Bitcoin’s explosive moves. For now, BTC remains the clear market leader, and many believe altseason won’t fully ignite until Bitcoin consolidates and capital begins to rotate more aggressively into alternative assets. Investors are watching closely for signs of that shift.
Bitcoin Finds Support Below ATH While Altcoins Struggle To Catch Up
After reaching a new all-time high near $112,000, Bitcoin has pulled back slightly, now trading around the $107,000 level as bulls attempt to establish short-term support. This move comes amid ongoing macroeconomic uncertainty, including escalating trade tensions and persistently high US Treasury yields that continue to rattle traditional markets. Despite the retracement, bullish sentiment remains strong, with many investors viewing the dip as a healthy correction within a broader uptrend.
Daan points out a critical divergence between Bitcoin and the broader crypto market. While BTC has surged into new territory, the TOTAL Altcoin Market Cap remains more than 30% below its previous all-time highs set in 2021. This highlights the clear strength of Bitcoin in this cycle compared to altcoins, which continue to lag behind despite recent rebounds.
Daan’s technical analysis emphasizes the importance of a key horizontal resistance level on the TOTAL chart. Until that threshold is broken, altcoins may continue to underperform relative to Bitcoin. The strength and momentum of BTC have consistently outpaced the rest of the market throughout this cycle, and unless a structural shift occurs, this trend may persist.
Weekly Chart Analysis: Breakout Confirmed, Bulls In Control
Bitcoin’s weekly chart shows a decisive breakout above its former all-time high at $109,000, confirming the strength of the ongoing bullish trend. BTC reached as high as $112,000 before facing resistance and is now consolidating around $107,500. This level aligns closely with the breakout zone, turning previous resistance into a potential support area—a classic bullish retest setup.
The candle structure shows strong bullish momentum with high volume, validating the breakout. BTC continues to trade well above the 34-week EMA ($87,938), which has acted as dynamic support throughout this macro uptrend. All major moving averages (50, 100, and 200 weeks) are trending upward, reinforcing the long-term bullish structure.
Notably, the weekly close will be critical. Holding above $103,600 confirms the breakout and could trigger renewed buying interest, potentially leading to a push toward the $120K–$125K range. If the current level fails to hold, BTC could retest the former range between $95K and $100K for support.
Overall, the trend remains bullish on the higher time frame, and despite short-term volatility, Bitcoin’s structure signals continuation toward new highs, supported by strong macro tailwinds and robust on-chain metrics.
Featured image from Dall-E, chart from TradingView
