Bitcoin (BTC) has once again broken through the coveted $100,000 mark, marking a significant milestone in its price trajectory. For the first time since January 2025, the flagship cryptocurrency has reclaimed the six-figure territory, currently trading at $100,794, up 4.11% from its intraday low of $96,150. The latest rally is backed by shifting market dynamics, growing institutional interest, and global political developments. As market sentiment turns increasingly bullish, some prominent figures like MicroStrategy’s Michael Saylor are setting their sights on $200,000.

Third Time Above $100K: What’s Different Now?

This marks the third time Bitcoin has breached the $100K mark, following previous peaks on December 5, 2024, and January 20, 2025. However, unlike the previous instances, this current breakout is accompanied by a substantial increase in market dominance, now exceeding 60%.

BTCUSD Price Chart | Source: CoinMarketCap

To put that into perspective, during the previous surges, Bitcoin’s dominance hovered around 52–54%, suggesting a more altcoin-diverse rally. This time, however, the spotlight is squarely on Bitcoin, highlighting a clear market rotation back towards the original cryptocurrency and away from riskier altcoins.

Bitcoin Dominance hit ATH | Source: CoinGecko

This increasing dominance also implies stronger investor conviction. It’s not just a speculative run it reflects a broader shift in institutional allocation, portfolio rebalancing, and perhaps even a recalibration of what “store of value” means in today’s global economy.

Macroeconomic Winds Fuel the Rally

The latest leg up in Bitcoin’s price comes amid a confluence of global economic and political triggers. Notably, US President Donald Trump’s recent remarks on a potential trade agreement with the United Kingdom have injected optimism into financial markets, spilling over into the crypto sector.

Simultaneously, the weakening US dollar and declining bond yields are encouraging investors to seek alternative hedges against inflation and fiscal uncertainty. Bitcoin, with its capped supply and decentralised nature, is increasingly viewed as a digital safe haven. This macroeconomic backdrop creates ideal conditions for a Bitcoin rally.

Adding fuel to the fire is a surge in institutional inflows. According to data from Farside Investor, Bitcoin ETFs saw $1.8 billion in inflows in just the past week. These figures point to growing confidence among institutional investors, further legitimising Bitcoin’s role in diversified portfolios.

Michael Saylor: Bullish Beyond $200K

Few names are as synonymous with Bitcoin maximalism as Michael Saylor, Executive Chairman of MicroStrategy. Following the latest price surge, Saylor posted on X (formerly Twitter):

“You can still buy $BTC for less than $0.2 million.”

His statement isn’t just hype; it reflects deep conviction. For years, Saylor has led his company to aggressively accumulate Bitcoin, positioning it as a core treasury asset. His bullish call for $200,000 BTC aligns with the ongoing institutional shift and macro conditions supportive of higher prices.

While sceptics argue that such valuations are speculative, the historical trajectory of Bitcoin’s four-year halving cycle often supports dramatic price appreciation in its latter stages. According to Ben Caselin, Chief Marketing Officer at crypto exchange VALR,

“Retail is only set to come in toward what is traditionally the latter part of the Bitcoin four-year cycle, which might see a macro top reached in Q4 of this year.”

If history is any guide, we could see a continued rally, particularly as retail FOMO (fear of missing out) kicks in over the coming months.

Technical Indicators Support Bullish Momentum

From a technical perspective, Bitcoin appears poised for further upside. The recent rally followed a bounce from the $93,645 level, which had previously acted as resistance but is now serving as strong support.

BTCUSD Daily Price Chart | Source: TradingView

Currently, the Relative Strength Index (RSI) sits at 76, suggesting that the asset is in overbought territory. While this could signal a temporary pullback, it also confirms that bulls are firmly in control of the market.

Moreover, the overall structure of the chart shows a continuation pattern, indicating strong momentum rather than a fleeting spike. A break above the psychological resistance of $110,000—a target floated by Caselin could open the door to new all-time highs.

However, as always, investors should remain cautious. Sustained gains will depend heavily on key upcoming economic data, including the US budget report and the Consumer Price Index (CPI) release. These indicators will offer more insight into inflation, fiscal policy, and potential interest rate decisions—all of which could affect crypto markets.

What This Means for Altcoins and the Broader Crypto Market

While Bitcoin’s surge is cause for celebration among long-time holders, not all parts of the crypto market are rejoicing. The spike in Bitcoin dominance to over 60% signals a capital flight from altcoins, many of which are underperforming relative to BTC.

This may indicate that investors are consolidating their positions into safer, more established assets amid economic uncertainty. For altcoins to regain traction, they may need fresh narratives, technological upgrades, or more speculative retail activity.

Still, in past cycles, altcoins have often followed Bitcoin’s lead with delayed but aggressive rallies of their own—commonly referred to as “altseason.” Whether such a trend materialises in this cycle remains to be seen, especially as regulatory scrutiny on altcoins continues to mount.