Bitcoin Surges Past $104,000, Briefly Touching $105,000

Analysts say this rise could be linked to recent comments by the U.S. President Donald Trump, who announced a major breakthrough in the U.S.-China trade talks.

Recent Developments in the Crypto Market

U.S. President Donald Trump's announcement of a major breakthrough in the U.S.-China trade talks has sparked a surge in Bitcoin, which briefly touched $105,000—a level not seen in months.

If this trade reset is real, it could lift investor confidence across global markets. Experts believe that this positive news might remove economic uncertainty and push markets even higher.

With global liquidity increasing, risk assets like cryptocurrencies are expected to follow suit.

Shift in Market Dynamics

Bitcoin's dominance—its share of the total crypto market—is dropping, which often signals a shift toward altcoins. A similar pattern happened in late 2024, just before a major altcoin rally.

If the trend continues, May and June could be very bullish months for crypto investors.

Ethereum has already climbed nearly 40% in just a week and is trading above $2,500. Altcoins tend to follow Bitcoin's movement, and with BTC on the rise, many believe altcoins are about to surge as well.

At the same time, USDT dominance (how much of the market is held in the Tether stablecoin) is decreasing. This means more investors are moving their money from stablecoins into crypto assets—another positive sign for the market.

XRP: A Technical Analysis

Technical analysts are keeping a close eye on XRP, which recently broke out of a 112-day downtrend. If the rally continues, XRP could hit $2.80 soon, and potentially even set a new all-time high.

Some bullish price targets suggest it could go as high as $5.65, especially if it continues to hold above key support levels.

The XRP/BTC trading pair also looks promising. It's currently trying to break out of a "falling wedge" pattern—often a sign of a big move to the upside.

Looking Ahead

Some analysts are predicting a local market top in June or July, with Bitcoin possibly reaching $120,000 to $130,000.

If that happens, Ethereum could return to $4,000, and XRP might approach $4.00.