- Altcoins like Dogecoin, XRP, and Solana can join the potential Bitcoin breakout to $100,000.
- Nation-state adoption of BTC and altcoins is currently ongoing.
Bitcoin (BTC), through its latest price action, has solidified its position as the leading market coin. As the flagship cryptocurrency eyes the $100,000 mark, top altcoins are anticipated to follow the ascending trend.
Bitcoin’s Price Correlation With Altcoins
This expectation is based on the fact that the price of BTC is closely related to altcoins. As we mentioned in a previous article, the price of BTC hit an all-time high of $109,000 in January. The spike coincided with market expectations for US President Donald Trump’s inauguration speech.
Bitcoin’s rally to the $110,000 mark elevated the prices of top altcoins like Ethereum (ETH), XRP, Binance Coin (BNB), and Solana (SOL). Top memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE were not left out of the rally.
Ethereum peaked above $4,000, XRP above $3.3, BNB crossed $600, and Dogecoin at $0.5. However, Solana emerged as the winner among other altcoins, with a new ATH above $295.
Subsequently, the broader crypto market faced a significant rejection in the first quarter of 2025. The altcoins above maintained the same rally as Bitcoin. Since the beginning of the month, ETH, XRP, BNB, SOL, and DOGE prices have continued to consolidate but under bullish influence.
These altcoins are testing the resistance strongly and preparing for BTC’s next bullish move. Market analysts expect ETH, BNB, XRP, SOL, and DOGE to see a 30% upswing once BTC reclaims the $100,000 level. At press time, Bitcoin price was trading at $94,401, up 1.93% over the past 24 hours.
Analysts expect Ethereum to surge past $2000, while the XRP price is anticipated to surpass the crucial resistance at $2.6. In a recent update, we covered crypto analyst BarriC, who says XRP could hit $1,000.
If these expectations are to hold, Bitcoin must close the weekly trade above $95,000 and secure the resistance at $96,800 before the end of April.
Bitcoin Sees Rising Institutional Adoption
The latest momentum has fueled rising institutional adoption of Bitcoin. Institutional investors show renewed interest after weeks of consistent outflows from the spot Bitcoin Exchange-Traded Fund (ETF) market.
According to data from Farside Investors, the ETFs have seen a four-day streak of inflows. On Thursday, the Bitcoin ETFs saw inflows of $442 million. BlackRock’s IBIT recorded the highest inflows of $327.3 million, followed by Ark Invest’s ARKB with $97 million.
Intriguingly, corporate Bitcoin holders are driving Bitcoin scarcity on exchanges. As reviewed in our recent publication, publicly traded companies have acquired a large stash of BTC, particularly following the US presidential election.
According to a report from Fidelity, over 425,000 BTC have left exchanges since November, with nearly 350,000 BTC acquired by publicly traded companies.
Fidelity sees 2025 as a pivotal year for the adoption of Bitcoin by nation-states and government treasuries. As we discussed earlier, the Trump administration is actively adopting Bitcoin nationally and incorporating it into financial plans.
