We've been tracking Bitcoin's retrace but it is wise not to lose focus on the noise, the short-term. Bitcoin is doing great based on its price but after growing a nice 67% since 7-April it needs a break. This is exactly what I mean when I say that an altcoin can grow 300% when Bitcoin grows 20%.
Here we have Ethereum growing more than 245% in the same period of time Bitcoin used to grow 67%. This is normal, Bitcoin has a bigger market capitalization, but Ethereum is the queen, #2. While it isn't Bitcoin it is still big. Some smaller altcoins have grown even more and have more potential for growth. And that's my main point.
Regardless of what happens in the short-term, Bitcoin will continue growing because the bull market is not over. Bitcoin growing more means the altcoins still have so much more to give. Lots to give. Just think about it. What one does, the rest follows.
So Ethereum did what Bitcoin did and XRP did what Bitcoin did and Solana also did the same, they all went to hit a new all-time high while remaining high up in price. Another bullish signal.
When the market is bearish and set to crash, just hitting a new all-time high produces a major bearish reaction. What we are seeing now is shy action, sideways, consolidation at resistance and small retraces; all classic bull market action.
The main support range is $100,000 to $110,000. Trading above it simply means super-bullish for the entire market. If Bitcoin were to drop to $100,000, nothing changes at all, truly. There will be some blood short-term but such an event would only last days, literally 1-3 days and that's it, the next day we get growth.
For example, 5-August 2024. A major crash and market flush but never again one new low. Once Bitcoin hit bottom 5-August 2024 around $49,600, it started to grow long-term. The same is true with 7-April 2025, the bottom was hit at $74,400 and no new lows, what followed was long-term growth.
Present day, think of the same. Bitcoin is retracing to move higher. Any major low would be the last and final low before long-term growth. If a new low does not happen, even better; regardless of the short-term, flash crash or no flush, Bitcoin is going up.
Focus on the bigger picture, buy those trading low.
When Bitcoin grows 100%, all the potential left in this bull market, a smaller altcoin project can grow 1,000% or more. Choose wisely, we are in this market to grow.
Namaste.
