$BTC is currently trading between its all-time high and the previous local high. The key support level at $112K held strong during its first test, showing resilience. Since the bounce, there's been some bullish momentum, though it’s not explosive yet.
For bulls, defending the $112K support zone in the near to mid-term is crucial. Breaking to new all-time highs could reignite interest in BTC, potentially leading to outperformance. The pace of the move will matter: a slow, steady climb might allow altcoins to continue shining, but sharp, large candles could pull liquidity and attention back to BTC, impacting altcoin performance.