Bitcoin (BTC) has taken the lead in the cryptocurrency market, posting single-digit percentage gains in the past 24 hours. A relief rally followed the resolution of the tariff dispute between the U.S., Canada, and Mexico. However, China’s retaliatory tariffs against the U.S. have added fresh uncertainty, making the short-term outlook less clear.
Bitcoin surged to a local high of about $102.5K on Monday but dropped by 3% early Tuesday, trading around $99.2K at the time of writing. The altcoin market moved in sync with Bitcoin, helping push the total crypto market cap up by 8% to approximately $3.46 trillion.
Market analyst Peter Brandt expects Bitcoin’s dominance to rise to 66% compared to altcoins. He believes growing institutional adoption – and eventually, nation-state involvement – will strengthen Bitcoin’s position.
Brandt also noted that Bitcoin has been ranging between $109K and $90K. A breakout in either direction could set the tone for the coming months. If BTC moves lower, he sees $75K as a key support level. A bullish breakout, on the other hand, could push the price to around $135.9K in the short term.
Bitcoin has surged over 500% in the past two years, but its momentum may slow compared to altcoins. According to Eric Trump, executive vice president of the Trump Organization, now could be a smart time to look at Ethereum (ETH).
The ETH/BTC pair has been stuck in a multi-year downtrend but recently bounced off a key support level above 0.023. This suggests an “altseason” could be on the horizon, even as Bitcoin’s dominance continues to rise.
Altcoins may be lagging now, but history shows they don’t stay quiet for long. We’ll keep you updated.
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