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  • 21 Apr 25

BTC Climbs Back Above $87.5K, but Market Awaits Altcoin Rally

The week began with a bullish move for Bitcoin, which climbed back above $87.5K, recovering from the dip triggered by U.S. trade policies.

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The week began with a bullish move for Bitcoin, which climbed back above $87.5K, recovering from the dip triggered by U.S. trade policies. The rebound has been accompanied by increased buying activity, with transaction volumes rising and the price breaking above local highs.

According to experts, similar behavior has been observed before when bulls pushed sellers out from lower levels and maintained a stable upward trajectory. Analysts believe that the current recovery may result in Bitcoin breaking through the key psychological barrier of $90K.

Institutional Accumulation Continues

Major players continue to hold significant amounts of BTC. Since MicroStrategy began its purchases in 2020, institutional interest in Bitcoin has steadily grown. According to Bitwise Asset Management, public companies control nearly 700K BTC, with MicroStrategy (MSTR) holding 77% of that amount.

Bitcoin Held By Public Companies. Source: Bitwise
Bitcoin Held By Public Companies. Source: Bitwise

The accumulation chart shows a pattern of systematic buying rather than spontaneous purchases. This builds long-term support under the price — many expect this base to prevent a crash during potential downturns.

Market Expects Further Growth

According to Santiment, holders with 10 to 10,000 BTC currently control 67,77% of the total Bitcoin supply. The number of active wallets with a non-zero balance has reached 54.72 million, approaching the all-time high. This is one of the strongest signals amid positive sentiment, as many hope BTC will break past $90K and move toward the $100K mark again.

Weekly charts continue to show an upward trend, despite a decline in the Chaikin Money Flow (CMF), indicating temporary weakness in accumulation. RSI is also pushing toward positive territory, strengthening buyers’ confidence.

Signs of Leadership Shift — Is Altseason Starting?

Meanwhile, altcoins are gaining traction. Experts note that the correlation between Bitcoin and altcoins is weakening. CQ CEO Ki Young Ju reported that BTC dominance recently dropped by 6%, possibly signaling the start of an altseason.

Former NBA star Scottie Pippen, who previously predicted Bitcoin’s price with six-day accuracy, claimed that the largest altseason began on April 20 — exactly 340 days after the halving. That same time structure accompanied the rallies of 2017 and 2021.

Altcoins Market Cap. Source: @ScottiePippen
Altcoins Market Cap. Source: @ScottiePippen

According to him, many altcoins are just beginning their growth cycle and could see price increases up to 175x. While Pippen’s claims may seem extravagant, there is a clear uptick in activity across DeFi, memecoins, and onchain applications, with capital shifting from Bitcoin to higher-risk assets.

Charts at a Crossroads

Bitcoin still dominates the market, but growing interest in altcoins could change the dynamics. Technically, BTC is near the upper boundary of an ascending triangle at around $88.5K. A breakout from this zone could trigger further growth, but failure to hold the level might redirect capital toward altcoins.

In the coming days, traders will closely monitor liquidity distribution. A move above $90K would strengthen Bitcoin’s position, while a stall could give smaller assets an opportunity to capture market attention.

Earlier: No alt season? Analysts Debate Key Conditions for Its Start

This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.

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