Bitcoin Found Its Strength to Push $100K: Where Are Alts & BTC Heading Next? AllinCrypto May 10, 2025
Bitcoin has led a market rebound as it makes its way towards $100,000 once again, breaking out of a downturn that began at the beginning of the year.
Trump’s tariffs and wider economic uncertainties led the crypto market and traditional stock market into a spiral, worrying market speculators.
Bitcoin has since regained its footing alongside leading altcoins, outpacing the S&P 500 and making its way back up to catch up with gold’s recent all-time highs.
Crypto market turns green with Bitcoin leading the way
Bitcoin made its way to $99,000 on May 8, swinging upwards from levels around $95k. Over the month of April leading into May, Bitcoin has begun to outperform the traditional markets.
On the eve of the US and UK’s new major trade deal benefiting both countries, BTC surged to $99,000 for the first time since February 2025.
Federal Reserve Chair Jerome Powell decided to hold off on cutting or raising interest rates on May 7 due to uncertainties with Trump’s tariffs. The hold comes as President Trump has called on Powell to cut interest rates for weeks.
In response, the UK’s Bank of England cut interest rates by 0.25% to 4.25%, allowing some breathing room for the UK economy. In response to interest rate cuts and the new US/UK trade deal, the British Pound surged 0.4% against the USD.
Top altcoins are also on the move. Ethereum is up 10% over the last 24 hours and back to $2000 per token after falling to $1430 on April 9.
Cardano’s ADA token is up 12% over the last 7 days, coming close to flipping $1.00. Hedera’s HBAR token is up 13%. One of the biggest gainers is Sui Network, which managed to jump 16% over 7 days and is up 88% over the last 30 days.
With Bitcoin’s continuation, we can expect further continuation for top altcoins such as HBAR, SUI, and Ripple’s XRP, which is due for US ETF approvals in the coming months.
For Hedera HBAR, the next price levels would be $0.40 – $0.45 in the medium term, with a short-term target of $0.27 to look forward to.
Bitcoin breaches $100k: What can investors expect next?
Market analysts predict more good news to come for the crypto market as altcoin ETF approvals are expected from now until the end of the year.
With the dust settling on President Trump’s tariffs, the traditional markets may have a chance to also follow in the cryptocurrency market’s steps and go for continuation.
If Bitcoin can reach $100,000 and maintain above the six-figure price point long enough, we may be in store for further continuation very quickly, pushing the token well above its previous all-time high of $108k.
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