Bitcoin Hits New ATH at $122K
Bitcoin hit a new all-time high of $122,000 this week after investors poured $1.18 billion into Bitcoin ETFs—the biggest one-day inflow of the year. The surge maybe attributed to traders expecting the U.S. central bank to be more flexible with interest rates soon. More than $550 million in short trades were wiped out, pushing prices even higher. Ether also jumped over 21%, climbing back above $3,000. With strong demand and positive news, crypto markets are gaining momentum again.
Is Altcoin Season Coming?
Bitcoin dominance dropped below 60% this week as altcoins posted strong double-digit gains, raising hopes that altcoin season may be on the horizon. While Bitcoin surged past $120,000, altcoins like Ethereum, Solana, and other major altcoins saw significant growth as well. However, market analysts believe that a real altcoin season requires more than price surges—it needs a sustained drop in Bitcoin dominance and improved liquidity. Although it’s still early, market analyst believe the momentum might shift to altcoins in the following weeks.