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Bitcoin Price Nears $87K as Altcoin Season Signals Emerge

Bitcoin Price Nears $87K as Altcoin Season Signals Emerge

Bitcoin price today surged towards the $85,000-$87,000 range after breaking above key technical resistance levels, with strong spot Bitcoin ETF buying emerging as a major driver of the latest rally.

BTC price recently moved above the $81,000-$82,000 area, where it had faced resistance around its 50-week moving average and 365-day moving average. Bitcoin then extended gains toward $85,000-$86,000.

Bitcoin ETFs Drive Buying

Strong demand from U.S. spot Bitcoin ETFs has supported the move higher. According to Data, Bitcoin ETFs purchased more than 12,000 BTC in one recent session, followed by another day of purchases exceeding 8,000 BTC. The buying has helped reduce selling pressure and provided additional momentum after Bitcoin moved above the $80,000 level.

Bitcoin ETF Inflows Approach $1 Billion

U.S. spot Bitcoin ETFs recorded nearly $1 billion in inflows in a single session, adding to a sharp increase in institutional demand. The daily inflows rose from $159 million on Thursday to $433 million on Friday before approaching $1 billion on Monday.

The increase has coincided with Bitcoin’s move toward eight-month highs.

Bitcoin’s rally has also triggered significant short liquidations. More than $900 million in leveraged short positions across Bitcoin and the broader crypto market were reportedly liquidated over a 24-hour period.

Bitcoin Price Faces Resistance Near $90,000

Despite the bullish momentum, Bitcoin faces several resistance levels ahead.

Short-term holders have reportedly booked profits around the current price range, creating potential selling pressure between $86,000 and $88,000. Bitcoin could then face another resistance zone around $88,000-$90,000 linked to its 100-week moving average.

A sustained weekly or monthly close above these levels could strengthen the bullish technical structure.

Fidelity International’s global macro director said Bitcoin may be entering a new bull-market phase if it can maintain levels above approximately $85,500.

CryptoQuant founder Ki Young Ju has also suggested that investors should not expect another 10x Bitcoin rally. Instead, he has outlined the possibility of a 3x to 5x gain during the next bullish cycle, followed by a relatively mild bear market.

Such a scenario would put Bitcoin significantly above current levels if the projected gains materialize.

Altcoin Season Signals Emerge

Bitcoin’s recovery has also improved momentum across the broader altcoin market. Several major altcoins have recently outperformed Bitcoin.

Glassnode data as showing signs that market conditions could be shifting from a Bitcoin-led phase toward an altcoin cycle. Several sectors, including Layer-1, Layer-2, DeFi and gaming tokens, have recorded strong rebounds after significant declines.

Ethereum has moved toward the $2,600-$2,800 range, ETH Price could face resistance near $3,000 if its current recovery continues.

 Solana has traded around $120.  XRP rose 13%. Zcash gained roughly 40% during the week and entered the top 10 cryptocurrencies by market capitalization.

Other notable weekly gains included Dogecoin at 22%, Cardano at 24%, Chainlink at 16%, and Hyperliquid at 26%.

Near Protocol recorded one of the larger moves, rising about 90% over seven days and 126% over the month. Uniswap gained roughly 44% over seven days and 100% over the month, while Avalanche rose about 50% during the week.

Sui, Aptos Pepe, Bittensor and Canton also recorded significant weekly gains.

Altcoin Season Has Not Been Confirmed

Despite the current crypto rally, the altcoin season index remains between Bitcoin season and altcoin season rather than confirming a full altcoin cycle.

However, other indicators are showing improving conditions for altcoins.

There is a rise in the market-cap index for altcoins outside Bitcoin and the top 10 cryptocurrencies. The index is described as bullish on the weekly timeframe.

Bitcoin dominance has also been declining since July 25, suggesting that altcoins have been gaining market share relative to Bitcoin.

These indicators could point to an early rotation toward altcoins, but they do not by themselves confirm that a full altcoin season has begun.

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Note. For informational purposes only. Not financial advice. Past performance does not guarantee future results.