Bitcoin is eyeing its highest weekly close, aiming to solidify a new uptrend and potentially reach new all-time highs. As Bitcoin pushes towards this milestone, several altcoins, including HYPE, Bitcoin Cash (BCH), Chainlink (LINK), and SEI, are showing promising signs of following suit.
Bitcoin's recent performance demonstrates resilience, with a solid comeback this week, rising over 6% and indicating strong buying interest near the $100,000 level. Bulls are striving to maintain the price above $108,000. According to Rekt Capital, a popular trader and analyst, a new uptrend into new all-time highs could occur if Bitcoin achieves its highest weekly close. However, weekend liquidity is typically lower, so caution is advised. Sellers are expected to return on Monday, potentially keeping the price within the $100,000 to $111,980 range.
Bitcoin's strength has spurred buying activity in various altcoins, which have rebounded from their respective support levels. Should Bitcoin reach a new all-time high, these altcoins may attempt to extend their relief rallies by surpassing overhead resistance levels.
HYPE: HYPE has experienced a significant surge, increasing fivefold since April. It is currently consolidating near $36, following a rejection from the $45.800 resistance level. The cryptocurrency is retesting the region between $36.000 and $38.000, with analysts closely monitoring its next move. Since April, HYPE has gained almost 400% and has become the top-performing large-cap digital asset. If buyers can sustain the $36 level, HYPE could rebound with renewed momentum. A breakout above $38.213 could reignite bullish momentum, potentially driving the price towards $45.800 and possibly $48.000.
Bitcoin Cash (BCH): Bitcoin Cash is showing signs of increasing bullish momentum and is approaching the $500 psychological level. The upsloping moving averages and the RSI in the positive zone indicate that bulls are in control, increasing the likelihood of a break above $500. If this occurs, the BCH/USDT pair could rise to $550, with a further target of $625 if the bulls prevail. The first support on the downside is at the 20-day EMA ($464) and then at the 50-day SMA ($430). A break below the 50-day SMA may signal a return of the bears.
Chainlink (LINK): Chainlink's price fluctuates based on the number of use cases and applications for its technology. Increased adoption by crypto projects can cause a rise in LINK's price. The current market price is $14.12, a 2.1% increase from the previous close. Support levels are at $13.90, $13.78, and $13.65, with resistance levels at $14.30, $14.50, and $14.70. The RSI is at 61.32, indicating potential bullish momentum, and the ADX is at 40.62, suggesting a strong trend.
SEI: SEI has shown a sharp surge in price recently, driven by growing interest in alternative chains. Transactions on the SEI network have tripled in the last three months, reaching as high as 1.6 million in a single day. This surge in activity signals strong demand and investor confidence. The altcoin is approaching the key resistance level of $0.30 and could break through it, potentially marking the end of a five-month-long Death Cross and triggering a Golden Cross.
The cryptocurrency market is currently experiencing a resurgence. Venture capital investment in crypto startups reached $4.9 billion in Q1 2025, marking the highest figure in over two years. The bull market is influenced by several factors, including the approval of ETFs, the intersection of AI and crypto, and changing regulations.
Bitcoin's recent consolidation within a narrow range, despite record-breaking ETF inflows, suggests a shift in its risk/reward profile. While Bitcoin remains a stable and credible asset, it may no longer offer the explosive growth potential it once did.
Overall, the cryptocurrency market shows signs of cooling after a recent recovery. Bitcoin's dominance remains significant, and the total crypto market capitalization is substantial.
