#BTCvsMarkets Others, however, are more optimistic. "The buyers will probably come in and then we will continue to move towards new (all-time highs)," said Michaël van de Poppe, founder of MN Trading Capital.

The CoinMarketCap Altcoin Seasonal Index shows that the market still favors Bitcoin over altcoins, with the altcoin season score being just 17 out of 100. Meanwhile, Bitcoin's dominance reached 64.39%, according to TradingView data.

Since Bitcoin hit a price of around $80,000, market sentiment has continued to heat up. On April 17, cryptocurrency analysis firm Santiment noted that the tone of social media posts related to Bitcoin has turned bullish.