Bitcoin (BTC) set a fresh high earlier this week, so we’re looking at key tokens. This points to the fact that institutional demand and a clear regulatory environment paves the way for a strong movement between top coins.
Bitcoin hovered at just under $111,000 in Asia morning hours on Friday, pulling out the expected profits after an upward move. Cardano’s Ada, Dogecoin (Doge) and Solana’s Sol added 4%, while Ether (ETH), XRP and BNB chains were under 1.5%.
Broad-based Coindesk 20 (CD20), a liquid index that tracks the largest token by market capitalization, has risen 1.2% over the past 24 hours.
Bitget Research’s chief analyst Ryan Lee told Coindesk in a telegram message that the potential dip of Bitcoin’s dominance could launch a wider Alt season.
Lee pointed to improved clarity in XRP regulations and recent technological breakout patterns as reasons why traders are paying attention to moves from $3-8 in the medium term.
XRP recently formed a golden cross against BTC on its weekly charts. This is a historically bullish signal that suggests a long-term trend reversal is ongoing. This ratio has been locked to lateral channels since late 2020, but it could now be broken after last month’s SEC decision not to pursue further appeals against Ripple.
Sol could rise towards $220-300 on ETF speculation, but the ADA shows a possible breakout of $1 to $3, Lee added.
Singapore-based QCP Capital said on Thursday that the latest BTC moves have confirmed a robust trend supported by improved structural foundations and relatively low volatility.
“This rally feels more structurally healthy than the last one that chased the less bubbled momentum and made the basic foundation stronger,” the company said, adding that the short dip that caused put side profits after BTC’s first record high break “can reload quickly.”
Still, there remains a broader macro risk. QCP said new tariff concerns, US yields and stronger dollars could inject volatility into the system, particularly for Altcoins. Traders are encouraged to stay selectively, focusing on assets with strong fundamentals and clear regulatory narratives.
Meanwhile, FXPro’s Alex Kuptsikevich shared in an email that as of Friday, Bitcoin’s sentiment index was floating just below “extreme greed.”
