Bitcoin Nears All-Time Highs: BTC trades above $112K amid Fed rate cut optimism, weak dollar, and $465M in short liquidations. Analysts eye $120K next.
Altcoins and Institutions Join the Rally: Stellar, Lido, and memecoins surge alongside rising institutional inflows and upcoming U.S. crypto legislation.
The crypto market is on fire today, with Bitcoin pushing back toward its all-time highs and altcoins joining the rally. BTC is currently trading around $112,152, holding just below its previous peak from May. This upswing is largely driven by a mix of macroeconomic optimism, strong trading activity, and growing institutional interest.
Bitcoin Hovers Near ATH Amid Weak Dollar and Fed Optimism
Bitcoin’s surge comes as investor sentiment improves in response to a weakening U.S. dollar and postponed trade tariffs. Expectations of Federal Reserve rate cuts later this year have also lifted risk appetite across financial markets. As investors turn to alternative assets, Bitcoin is benefiting from this increased confidence. Meanwhile, following a successful retest around $104,400, analyst Rekt Capital confirmed the downtrend is over, with targets now set at $120K and beyond.
Adding to the bullish mood, Santiment noted that retail FUD has historically signaled breakout moments, with smart money typically buying into the fear. Today’s pattern reflects that trend, pointing to further upside as BTC trades solidly above $112K.
Altcoins Join the Rally
The bullish momentum isn’t limited to Bitcoin. Several altcoins are rallying, led by Stellar (XLM), which jumped 11.7% amid renewed interest in its cross-border payments use case. Lido DAO (LDO) gained 11.1% as demand for liquid staking solutions grew. Memecoins are also seeing action, Dogwifhat (WIF) and Pepe (PEPE) both surged nearly 11%, showing speculative interest remains strong.
Ripple’s XRP rose over 5%, while Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) all climbed 4–6%, backed by increased trading volumes and broader market optimism.
