New Crypto Bull Run: Bitcoin Surges Past $100,000, Altcoins Ride the Wave

The bull run is here: Bitcoin broke $100K, and it's pulling the rest of the crypto market up with it. Let's look at what's driving the hype and what might come next.â€

The bull run is here: Bitcoin broke $100K, and it’s pulling the rest of the crypto market up with it. Let’s look at what’s driving the hype and what might come next.

The Bitcoin price has surged past $100,000, driven by growing investor demand and macroeconomic optimism. This marks a major breakout after a deep correction, paving the way for a potential altcoin season as well.

As of May 19, Bitcoin’s price hovers around $101K, showcasing a 100% increase from its 2024 lows. The cryptocurrency's return to the $100K level is a significant milestone in the ongoing bull market.

This surge has also pulled up Ethereum and leading altcoins, which could be a sign that the altcoin season has arrived.

Why is Bitcoin rallying?

There are a number of factors that have contributed to Bitcoin's rally. Some of the key drivers include:

* Renewed hopes for Federal Reserve rate cuts bolstered risk appetite and supported Bitcoin's advance in mid-May.

Investors grew optimistic that the Fed might pivot towards cutting interest rates later this year, reducing the opportunity cost of holding non-yielding assets like Bitcoin. Signals from Fed officials favoring lower borrowing costs fueled this belief.

* Optimism around a US-UK trade deal further eased geopolitical tensions.

On May 8, Bitcoin jumped to $101,330 after the announcement of the trade deal, showcasing a 4.7% increase in a single day. The cryptocurrency's price had stabilized around $97K in the previous session.

* A tentative pause in US-China tariff increases provided a potent tailwind for global risk markets, including cryptocurrencies. Both nations agreed to suspend punitive tariffs for 90 days, alleviating fears of further stagflationary shocks.

The swift rebound in global equities spilled over into digital assets. However, although Bitcoin rose on this news, it was the Alcoins that showed more noticeable growth.

* Spot Bitcoin ETFs saw significant inflows as Bitcoin held above $100,000, with US-listed products attracting $667.4 billion on May 19-the highest single-day total since early May.

Large managers like BlackRock, Fidelity, and Grayscale continued to add to their Bitcoin ETF positions, signaling ongoing confidence in the cryptocurrency.

* Major corporations are implementing Bitcoin treasury strategies, which reduces the circulating supply of Bitcoin available for public trading.

Strategy (formerly MicroStrategy) recently purchased 7,390 BTC worth $765 million, while Japan's Metaplanet added 1,004 BTC for $129 million on May 19.

What might come next?

The cryptocurrency market is currently experiencing what experts define as a "Bitcoin season." According to the Altcoin Season Index, which tracks the 90-day performance of the top 100 cryptocurrencies compared to Bitcoin, the score registered just 23 out of 100 as of May 21. A score below 25 confirms a Bitcoin-dominated market cycle, where the original cryptocurrency outperforms most alternatives.

Bitcoin's market capitalization stands at an impressive $2.14 trillion, representing 63% of the entire cryptocurrency market.

The cryptocurrency market's immediate future appears to favor Bitcoin, with the leading cryptocurrency maintaining its dominance through May 2025. For altcoins to enter a true "Altcoin season," Bitcoin price would need to stabilize and move sideways for some time, prompting investors to search for more profitable opportunities in alternative cryptocurrencies.

Current indicators suggest that this shift has not yet occurred, despite leading altcoins showing notable gains.

Top 3 altcoins worth keeping an eye on

As multiple indicators suggest that the altcoin season is approaching, many investors would certainly like to know which altcoins have the potential to perform better. Of course, when the true altcoin season arrives, most cryptocurrencies, both top and middle tier, will grow. Nevertheless, we have picked 3 prominent altcoins that appear best positioned to outperform when the next altcoin season hits.

Chainlink (LINK) plays a critical role in the Web3 stack by serving as the most widely used oracle network. It supplies essential real-time data feeds to smart contracts, enabling everything from lending and trading to gaming and insurance on-chain.

As of early 2025, numerous major DeFi protocols depend on Chainlink's services, including its widely used price feeds and Verifiable Random Function (VRF) toolsets. Developer activity remains strong, with over 3,400 commits recorded over the last year.

Chainlink is also expanding its offerings through CCIP (Cross-Chain Interoperability Protocol), enabling secure messaging and value transfer between blockchains. The LINK token has