Bitcoin nears $120K as traders spot early signs of a major rally while altcoins roar past $1 trillion in fresh market momentum.
TOTAL3 breaks resistance with altcoins like Solana and Chainlink gaining steam as Bitcoin dominance slips below 61 percent.
Rising retail and institutional interest fuels altcoin breakout as investors rotate funds away from Bitcoin in search of higher gains.
Bitcoin’s price has surged to $117,418, gaining 7.5% and showing signs of an incoming parabolic rally. Meanwhile, altcoins are heating up as the total crypto market cap excluding Bitcoin and Ethereum (TOTAL3) breaks past a key resistance.
This breakout signals a growing appetite for risk, and a potential altcoin season is beginning to unfold. Crypto traders are seeing history repeat itself, as Bitcoin’s price hugs the long-term trendline—just before previous explosions in value.
The current bull cycle mimics past patterns, where Bitcoin steadily grows before taking off into a parabolic rally. Charts from Merlijn The Trader highlight Bitcoin’s evolution since 2012. Each cycle shows massive growth, sharp corrections, and higher highs.
Source: Merlijn The Trader
From under $10 in 2012 to over $100K in 2025, Bitcoin’s long-term trend remains intact. The chart’s blue trendline reveals an exponential growth pattern, and the market hasn’t even reached the euphoria phase yet.
Altcoin Market Breaks Key Trendline
Besides Bitcoin’s momentum, altcoins are making noise. TOTAL3 recently jumped 8.85%, breaking out of a multi-month falling wedge. This signals a major shift in the market structure. The total altcoin market cap now stands at $1.02 trillion. This is a huge recovery from the 2023 lows of $278 billion. Altcoins like Solana, Chainlink, and Injective are showing fresh strength.
Source: Merlijn The Trader
Moreover, Bitcoin dominance has slipped to 60.9%, down from 62.2% yesterday and 64% a month ago. This drop confirms capital rotation into altcoins. Traders often interpret this trend as the early stages of a full-blown altseason.
Institutions and Retail Investors Pile In
Additionally, institutional and retail participation in altcoins is growing. Altcoin projects focused on real-world use cases are gaining traction. Strong breakouts above resistance zones signal deep investor confidence. Ethereum has also gained dominance, now holding 11.2% of the market.
Consequently, the rising altcoin caps and Bitcoin’s steady climb suggests a wider crypto bull market is forming. Crypto veterans recognize the pattern. Price consolidation, trendline hugging, and investor disbelief always come before the final blow-off top.
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