Key Takeaways:
- Bitcoin reclaims the 80K zone by surging to $83.6K today.
- Along with BTC’s surge, altcoins such as BNB, TON, GT, and ATOM witnessed a significant uptrend.
- The momentum suggests that an alt season is underway, which is yet to be confirmed by the decrease in BTC dominance.
- Some experts predict that Bitcoin could crash to $65K, while others foresee it reaching $250K this cycle.
Following the dip into $78K, Bitcoin reclaims the 80K zone by surging to $83.6K today. This move ensures that the bull market has not ended yet, and the unexpected surge of various altcoins signaled the arrival of the alt season.
Now, the alts should outperform BTC and decrease its dominance, which is in new highs. However, two months after achieving its all-time high of $109K, Bitcoin is 24% down from that position. If more funds flow to the altcoins that surged recently, we can witness a drop in its dominance.
The Surge In BNB, TON, GT, & ATOM Hint At Altcoin Season
The most anticipated phase of the current cryptocurrency bull market, the altcoin bull run, has shown signals of its arrival by creating a surge in various tokens, notably the BNB, TON, GT, and ATOM.
- BNB: From a dip to $511 on March 11th, BNB went to $630, surging 23.29% in six days. This increase influenced leading tokens on the BNB chain to boost their performance.
- TON: Toncoin, the native currency of The Open Network (TON), witnessed a 27% uptrend in its charts. From $2.3, it went to an impressive value of $3.42 per coin.
- GT: From $18, Gate.io exchange’s Gate token ($GT) went to $21.86. Since the user activity of the platform has increased, price prediction experts expect the token to reach new ATHs soon.
- ATOM: From March 11th’s dip to $3.43, Cosmos chain’s ATOM went to a high of $4.67, indicating a revival from its long run downtrend. At present, the coin is almost 90% down from its ATH.
Why Has Alt Season Not Happened Yet? Best Indicators For 2025
Experts opine that the rising Bitcoin dominance makes altcoins less profitable in comparison. This mainly affected the ETH, where the institutional investors have shown detachment to it, resulting in no significant uptrend. Also, many investors thought that creating and investing in a variety of altcoins would lead to reduced BTC dominance, which also didn’t happen.
The 2017 and 2021 alt seasons occurred when Bitcoin’s dominance decreased, but it has been increasing since 2022. However, recent developments in the altcoin market show that retail investors will re-enter the space in large numbers soon. Along with the flocking of retail buyers, the best indicators include a breakout in ETH and the approval of spot ETFs for altcoins.
Where Is Bitcoin Headed? Expert Predictions On BTC
According to Peter Schiff, the American stockbroker and financial commentator, Bitcoin has the chance to crash below $65K if Nasdaq falls into a bear market. He posted on his X profile, “The correlation where a 12% decline in the NASDAQ equates to a 24% decline in Bitcoin holds, when the NASDAQ is down 20%, Bitcoin will be about $65K.”
Many traders are optimistic about Bitcoin despite the uncertainties in the market. The positive developments in the regulatory framework and the support by industry leaders have made BTC an asset with high predictions. Tom Lee, the renowned Wall Street strategist with over 25 years of experience in equity research, predicts that it will be the top-performing asset of the year.
Tim Draper, an American venture capital investor and a proponent of Bitcoin, expects it to reach $250,000 this year. An interesting long-term prediction is from Microstrategy’s Michael Saylor, who envisions it to reach $13 million by 2045. As a highly volatile asset, it can travel to both 65K and 13 million, but the exact time is uncertain.