The crypto markets are lighting up green this week as Bitcoin storms past $100,000, fueling a broad-based rally across altcoins and DePIN projects.
Bitcoin Blasts Through $102K, Eyes New All-Time High
After a minor retracement at the start of the week, Bitcoin has come roaring back. As of Friday, BTC is trading above $102,000, marking a nearly 5% gain in the past 24 hours and solidifying its position above the key psychological barrier of $100,000.
In our earlier market analysis, we flagged the likelihood of BTC reclaiming $100K in May — and that analysis has now played out. With Bitcoin making higher highs since mid-April and breaking past the critical $101.2K resistance level, momentum is building toward a potential new all-time high (ATH). Analysts are now watching the $106.4K mark as the next big test.
If BTC holds above the $101K support zone during the coming week, we could be on track for that record-setting breakout.
Altcoins Join the Party: ETH and SOL Lead the Charge
It’s not just Bitcoin making headlines.
- Ethereum (ETH) surged an eye-popping 23.4% day-on-day, pushing its weekly gain to over 30%.
- Solana (SOL) posted strong numbers too, jumping nearly 10% in 24 hours and delivering a remarkable 54% gain month-on-month.
- Other altcoins echoed this bullish sentiment, delivering impressive rallies across the board.
DePINs Rally Harder: Akash, Filecoin, Helium Shine
While the major coins dominated headlines, Decentralized Physical Infrastructure Networks (DePINs) quietly staged one of the strongest rallies of the day.
- Filecoin (FIL) leapt nearly 10% in 24 hours.
- Helium (HNT) continued its uptrend with a 6% daily gain and an astonishing 63.6% jump over the past month.
- Akash Network (AKT) stole the spotlight among top DePINs, soaring more than 16% in a single day.
These gains reflect not just bullish market sentiment but also the underlying strength of DePINs, which have shown remarkable resilience even through past bear markets.
Why a New Bitcoin ATH Looks Likely This Month
Since late April, Bitcoin has been consistently consolidating with higher lows and higher highs — a classic bullish pattern. Even last week’s brief dip failed to push BTC below the crucial $94,300 support level.
With Thursday’s breakout above $101.2K and today’s momentum above $102K, the path to a new ATH is looking increasingly plausible. Market watchers are eyeing a possible consolidation phase above $101K, which could pave the way for a breakout past the $106.4K threshold in the weeks ahead.
The chart shows a bullish trendline and phases of uptrend followed by consolidation. Bitcoin dripping below the $103k mark pushes it again into a consolidation zone. If the leading crypto holds above the $102k mark, the chances of seeing a new ATH will be on the high side.
DePINs Set to Capitalize on Bull Market Liquidity
It’s not just Bitcoin and Ethereum drawing capital. DePINs are riding the wave of fresh liquidity, gaining traction as investors rotate into projects with real-world use cases and strong growth narratives.
From 2022 to 2024, DePINs saw their cumulative market cap surge over 100x, despite navigating a brutal bear market. Now, as the broader market shifts into a bullish phase, DePIN projects appear poised for even greater expansion. According to Messari’s State of DePIN 2024 report, the sector could evolve into a trillion-dollar economy within the next three years.
Disclaimer:
The information provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. The content reflects market observations and opinions at the time of writing and should not be interpreted as a recommendation to buy, sell, or hold any cryptocurrency or digital asset. Readers are encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Cryptocurrency investments carry significant risk and may not be suitable for all investors. The author and publisher assume no responsibility for any financial losses or decisions made based on the information presented.
