Crypto set for rotation

Bitcoin climbs to a new all time high around 123k as altcoins rally, signaling a shift in market leadership.

Bitcoin hits new ATH as altcoins rally reshapes crypto leadership

Bitcoin reached a fresh all time high near 123,000 dollars and is holding above the 120,000 level. An intraday pullback of about 1.5 percent trimmed the total crypto market value by roughly 50 billion dollars, while Bitcoin’s market share slipped by about half a percentage point. The move suggests momentum is uneven and traders are watching whether the breakout can stick.

Beyond Bitcoin, breadth is improving. Excluding BTC, TOTAL2 rose above 1.65 trillion for the first time since 2021, signaling capital flowing into altcoins. Bitcoin dominance drifted lower from around 65 percent to 59 percent in two months even as BTC climbed, and the altseason index jumped from 16 to 59, a sign of growing appetite for non BTC assets. This pattern points to a market that is expanding its leadership rather than concentrating on one asset, but it also raises the question of how long this rotation can last if BTC momentum stiffens. If alts sustain momentum, the market could see broader participation; if not, a quick retrace could follow.

Highlights

The coming weeks will show whether this rotation holds or fades.