- Bitcoin dominance surged to 58.99% as the CMC Altcoin Season Index dropped to 41, showing stronger BTC market control.
- BTC pulled back to $117,190 with support at $116,813, while $119,504–$120,000 now acts as resistance before further direction.
- Altcoin futures open interest fell by 3.04% in 24h, while Bitcoin liquidations dropped by 69% to the lowest since July 2025.
Bitcoin pulled back from its new all time high after rejecting an important level, with analysts predicting short term range bound trading. The digital asset touched $123,288 before retracing sharply with questions about near term momentum.
According to analyst Michael van de Poppe, the market is cooling and may consolidate before another breakout attempt. This change comes as altcoins continue lagging, with the CMC Altcoin Season Index showing a reading of 41 out of 100, placing the market firmly in Bitcoin season.
Key Resistance and Support Zones
BTC shows volatility after the all time high push. The asset dropped toward $117,190, with immediate support near $116,813. A short term recovery could retest the $119,504–$120,000 zone, which now acts as a strong resistance barrier.
However, if rejected again, downside levels to monitor include $116,800 and $114,755. The $114,755 mark is notable, having flipped from resistance into support after prior breakouts. Momentum indicators also indicate cooling pressure.
The RSI has turned slightly lower from elevated levels, hinting at reduced buying intensity. Volume spikes during the initial breakout suggested strong demand, but the swift reversal shows liquidity sweeps and profit taking behavior. This creates a narrow window for traders to watch how Bitcoin reacts at $120,000 before establishing further direction.
Bitcoin Dominance Over Altcoins
Alongside price action, market outlook supports Bitcoin control. Its dominance rose to 58.99%, increasing by 0.14 percentage points in the past 24 hours. Meanwhile, the CMC Altcoin Season Index dropped to 41 out of 100, marking a daily fall of 4.65 points.
This confirms a tilt toward Bitcoin over broader altcoin exposure, even as Ethereum posted a 5.95% weekly gain. Capital flows remain concentrated in Bitcoin, with traders preferring higher liquidity during uncertain conditions.
However, pockets of altcoin activity remain visible. Within the Binance ecosystem, Baby Shark Universe rose 18% after a new listing, while Lagrange advanced 23.76% following partnership news. Yet, these isolated rallies have not shifted the broader dominance balance, with Bitcoin’s market cap growth of 6.6% still outpacing the 6.14% recorded by altcoins this month.
Derivatives Data Shows Trader Caution
Derivatives trading adds further context to the cautious sentiment. Altcoin futures open interest fell 3.04% in the last 24 hours despite a 33% weekly rise.
At the same time, Bitcoin liquidations declined sharply by 69% to $51.65 million, the lowest level since July 2025. This indicates reduced forced selling in Bitcoin but also less confidence in leveraged altcoin bets.
The Fear and Greed Index is at 57, indicating neutral sentiment across the market. Analysts note that a decisive move for altcoins would require the CMC Altcoin Season Index to climb above 50. The market appears focused on Bitcoin next range test near $120,000.
