Bitcoin (BTC) Is Showing Strong Signs of Recovery, Holding Above $86,000 and Approaching the $90,000 Range.

This improved sentiment appears to be linked to the Federal Reserve's decision to maintain rates. The crypto market reacted positively to the news, with Bitcoin briefly reaching $87K.

Bitcoin is showing strong signs of recovery, trading above $86,000 as it approaches the $90,000 range. The shift in market sentiment is evident, with traders moving past the bearish phase and into a stage of disbelief.

This improved sentiment appears to be linked to the Federal Reserve’s decision to maintain rates. The crypto market reacted positively to the news, with Bitcoin briefly reaching $87K.

In an analysis, Sheldon Snipper of the Crypto Banter YouTube channel highlighted the altcoins that could lead the market in this new bullish phase.

Bitcoin Still 100% in a Bull Market

Snipper highlighted that Bitcoin is in a strong position, having not broken through any major bull market support levels or key bottom trend lines.

He shared a chart showing that Bitcoin remains above the bull market trend line despite repeated price dips. Essentially, Snipper emphasized that Bitcoin is still 100% in a bull market.

"We're still 100% in a bull market. It's crazy to think about. We've had so many downs, and it keeps getting rejected at this Fib level. But the point is, we're still in a bull market.

We haven't broken any major support levels yet. It's still holding that key bottom trend line, and it's still in a bull market. It's still has room to run."

Altcoins for Leading the Market Recovery

In his video analysis, Sheldon Snipper discussed the potential for a full-blown altcoin season. He highlighted XRP as one of the more resilient altcoins, currently trading at $2.49. Despite broader market volatility, XRP has managed to hold above a key support level at $2.

XRP has posted a 7.5% weekly gain, driven by a dramatic surge following news of Ripple’s lawsuit conclusion. Analysts suggest a breakout above $2.70 could trigger further upside movement, potentially pushing XRP toward new cycle highs.

From his analysis, SUI is also showing strong bullish momentum, with its sights set on reaching $4-$5 in the near term. Snipper further projected that SUI could eventually hit $7, considering its market cap in relation to Solana.

Currently, SUI is trading in the mid-$2 range, priced at approximately $2.45 at the time of this report, reflecting a 3.1% increase over the last day. This level is seen as a potential accumulation opportunity before its next upward move.

Ondo is also showing strength, with technical indicators suggesting a potential 40% surge as liquidity builds. Ondo is currently trading at $0.8694, with a minor 0.7% uptick in the past day.

Bitcoin's Road to $100K and Beyond

Sheldon Snipper predicts that if Bitcoin breaks through the $95,000 resistance, it could move toward $110,000-$120,000, with further gains possible in the latter half of the year. He also mentioned that some forecasts suggest this market cycle could push Bitcoin to $200,000, fueled by institutional adoption and increasing retail participation.