Bitcoin crossed the $100,000 milestone on Wednesday, hitting a new all-time high at $104,088 on December 5. Crypto traders’ enthusiasm was rewarded with significant capital inflows to Spot Bitcoin ETFs and increase in BTC options trade volume.
Post Bitcoin’s rally to $100,000 (BTC), traders are looking for the next altcoin to shift their focus to, expecting higher returns as the cycle progresses. Capital rotation is likely while altcoin season is in play, and altcoins like Ethereum (ETH), Render (RNDR), Sui (SUI), Pepe (PEPE), Hyperliquid (HYPE) and Ondo (ONDO).
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Bitcoin cycle top and where BTC is headed after $104,000
Bitcoin Pi cycle top indicator predicts a break past $125,494 before BTC tops this market cycle. Bitcoin is 22% below the target, and dominance has climbed nearly 2% within two days.
Rising Bitcoin dominance signals that there is more upside potential, and BTC could extend its gains. Interestingly, the altcoin season is in full swing, with 75% of the top 100 altcoins outperforming BTC in a 90-day time period.
BTC is headed towards a multiple of the 350-day moving average on the Pi cycle top indicator, and rising dominance supports a bullish thesis for the largest cryptocurrency.
Network realized profit/loss metric on Santiment shows that traders are consistently taking profit on their Bitcoin holdings. Sev
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Author: Ekta Mourya
