Bitcoin Nears $98K as Alts and Memes Join the Surge
Bitcoin (BTC) is once again making headlines, this time as it surges toward the $98,000 mark, pushing the broader crypto market into an unexpected frenzy. The world’s largest cryptocurrency is now up over 12% this week alone, reigniting speculation that a six-figure BTC is no longer a question of if, but when.
As Bitcoin eyes the psychological milestone of $100,000, other sectors of the crypto market have caught fire particularly altcoins and meme coins, which are riding the momentum with renewed retail interest and speculative energy.
What’s Driving the Bitcoin Rally?
Multiple catalysts appear to be fuelling the current Bitcoin rally:
- ETF inflows into Bitcoin products in the US and Europe continue to rise.
- Macroeconomic uncertainty, including fresh interest rate guidance from central banks, is pushing investors toward alternative assets.
- Renewed institutional interest from hedge funds and pension groups has added confidence to the market.
Traders are now eyeing $100,000 as the next resistance level, though many expect sharp volatility in the run-up.
“Bitcoin is behaving like digital gold again,” said Eliza Roberts, senior analyst at CryptoInsight. “It’s drawing capital from risk-averse institutions and high-octane traders alike.”
Altcoins Bounce Back
The rally has not been limited to Bitcoin alone. Top-performing altcoins are showing double-digit gains, with Ethereum (ETH) up 9%, Solana (SOL) up 14%, and Avalanche (AVAX) spiking 11% in the past 48 hours.
Even Layer 2 tokens like Arbitrum (ARB) and Base-native assets are enjoying increased volume and price activity. Analysts say capital rotation from Bitcoin into alts could be the next big play as traders hunt for larger percentage gains.
Meme Coins Spark Retail Mania
Perhaps most unexpectedly, meme coins are having a moment. Dogecoin (DOGE) has rallied 18% this week, while Shiba Inu (SHIB) is up 22%, fuelled by celebrity tweets and viral TikToks.
Newcomers like PEPE 2.0, FARTCOIN, and POPCAT are also attracting speculative flows. Though the fundamentals are questionable, the sentiment is unmistakable: retail is back, and it’s hungry for quick wins.
However, some analysts warn that meme coin euphoria often signals a short-term top. “It’s a red flag when jokes start outperforming fundamentals,” said crypto commentator Max Finn. “But it’s also part of what makes crypto cycles so uniquely explosive.”
What’s Next for the Market?
With Bitcoin on the cusp of $100,000, and altcoins surging alongside it, traders are eyeing liquidity levels and funding rates closely. Analysts caution that overleveraged long positions could lead to rapid corrections if momentum stalls.
Still, the current market mood is unapologetically bullish and for the first time since 2021, it feels like the full power of a crypto bull run is back in motion
Stay on top of any cryptocurrency news by following us on X @ouinex