Everything is getting crazy! The $98,000 mark alone is wild, and now $100K is literally within touching distance. The Trump factor here is interesting too. If this administration is going full pro-crypto, with moves like appointing crypto-friendly officials and creating a national Bitcoin reserve, that's next-level bullish that will make people buy more bitcoin. Imagine other countries following suit and adding BTC to their reserves, this could really solidify Bitcoin as the global standard.
Sometimes, I wonder, what if most countries decide to buy and store Bitcoin as reserves to sell it later? Each big country can at least buy 500k Bitcoins or so very easily, and with that, they would acquire a big chunk of the total circulating supply of Bitcoin. What will happen then? And then, if they all start dumping their holdings at once when the price starts crashing, it's going to be devastating.
I’m still surprised that altcoins didn’t move much, though. Usually, you’d expect at least some of them to follow Bitcoin’s pump. Instead, BTC dominance is just climbing higher, it feels like we’re heading back to the 'Bitcoin is king' days. I’m holding too much ETH and SOL. Luckily, SOL is following in Bitcoin's footsteps, but ETH is taking a lot longer to catch up. Hopefully, I’ll see both of them on top soon.
Most altcoins are moving extremely slowly. SOL, as you mentioned, is still doing surprisingly well. Those who are heavily invested in altcoins must be worried about the conditions because usually we expect altcoins to move at a higher pace than Bitcoin in a bullish market but this time around, things are completely different.