The cryptocurrency market is welcoming recovery opportunities: Bitcoin rebounds, altcoins surge.
The cryptocurrency market has recently experienced a significant rebound, with various assets starting to rise, especially some altcoins, bringing new opportunities for investors. Despite a slight short-term drop in Bitcoin's price, it remains close to the upper limit of its trading range in 2025, maintaining strong structural performance. Meanwhile, altcoins have performed particularly well in recent weeks, outpacing Bitcoin's gains and further weakening Bitcoin's dominance.
Bitcoin: Continuing to fluctuate within a consolidation range.
Despite a slight drop, Bitcoin's trading price is still close to the upper limit of its trading range in 2025, around $116,600. With the price well above the 50-day moving average ($114,000) and the 200-day moving average ($101,300), this asset still shows structural strength. However, the current market conditions suggest that Bitcoin's dominance is beginning to weaken. In recent weeks, several popular altcoins have outperformed Bitcoin.
Certain assets (such as Shiba Inu) are showing new strength, while others (such as XRP) are experiencing explosive double-digit daily gains. This divergence is weakening Bitcoin's relative dominance in the cryptocurrency market, indicating that capital is shifting from Bitcoin to specific altcoins.
From a technical perspective, Bitcoin is currently trading within a clear range between the support level of $113,300 and the resistance level of $121,500. Since mid-July, Bitcoin has faced resistance multiple times, and breaking through the upper limit of this range is quite challenging. Although Bitcoin has rebounded from the 50-day moving average support, its momentum remains lower compared to the upward momentum of some other altcoins. This has a dual impact on investors.
As long as Bitcoin stays above the support level of $113,000, it is likely to retest the level of $121,500, indicating that it still has a structural bullish trend. The upward trend since the beginning of 2025 is still continuing. The momentum behind altcoins is strengthening. The decline in dominance suggests that the next to take aggressive action may be high-beta altcoins, rather than Bitcoin. The next target is close to $125,000, and if Bitcoin can firmly break through $121,500, it may regain some lost dominance. However, if the price fails to hold above $113,000, a deeper pullback towards $108,800 may occur.
Shiba Inu (SHIB): Is a breakout coming?
After a continuous rebound since the July low, Shiba Inu's stock price is on the verge of a breakout. The stock price is gradually forming an upward trend line, indicating stable buying interest at higher lows. SHIB's current stock price is close to $0.00001286, situated between the 50-day and 100-day moving averages, an area often considered a short-term decision point for market direction.
Given the strong buying volume, SHIB has recently rebounded from the $0.00001180 area, returning to the middle of the current structure. If the 100-day moving average (approximately $0.00001323) decisively closes above, it would mark the first significant volatility in weeks. This could lead to a test of the 200-day moving average ($0.00001429). Once this long-term resistance level is broken, the market could turn significantly bullish, attracting more traders back. SHIB currently has three major trend directions to watch.
If buyers can break through the 100-day moving average and then the 200-day moving average, then the high point around $0.00001550 to $0.00001600 from late May will be the next important target. Before taking final action, SHIB may continue to oscillate between the 50-day and 100-day moving averages to accumulate pressure.
Swing traders may have the advantage here. A bearish rejection could occur; if the 100-day moving average is not broken, the price may retest the upward trend line support at around $0.00001200. A drop below this line could reverse the recent upward trend and fall back below the $0.00001150 area.
Ripple (XRP): Strong performance, approaching new highs.
Among the cryptocurrencies that performed the strongest this year, XRP's performance stood out the most. Its daily increase reached as high as 11%, making it one of the cryptocurrencies with the largest single-day gain in 2025. This rise occurred after XRP strongly rebounded from the support level of $3.00, with buyers firmly intervening at this support level to prevent a recent pullback.
With the price breaking through the consolidation range of $2.40 to $2.80 that had lasted for several months, XRP has shown a strong upward trend in recent weeks. The breakout released significant buying pressure, quickly pushing XRP up to the $3.60 range, after which sellers took profits. Given the stable and continuously increasing trading volume in both the spot and derivatives markets, the recent rebound indicates that bullish sentiment remains strong.
However, a clear descending trendline resistance has now appeared on the chart, which has formed since the July peak. The next important resistance level for the bulls is this trendline, which is currently intersecting just below $3.40. Given that $4.00 is the next psychological target, if the daily closing price is above this target, it could reignite upward momentum and pave the way for another assault on the $3.60-$3.70 area.
If XRP fails to break through the trendline, the 20-day moving average (at $3.02) will become a key level to watch as a dynamic support level. A drop below this level could lead XRP to retest the 50-day moving average (at $2.74) and potentially slow down the upward pace.
Summary: Clear signs of recovery in the cryptocurrency market.
The current cryptocurrency market shows potential for recovery. Although Bitcoin's dominance has weakened, many altcoins are gaining strength, particularly Shiba Inu and XRP. The strong rebounds of these assets indicate that capital is shifting towards altcoins, and investors should pay attention to these trends and make appropriate allocations.
Whether it's Bitcoin's consolidation or the strong rebound of altcoins, investors should closely monitor market changes to seize potential opportunities. Being flexible in response to upcoming market volatility will be key to success.
