Bitcoin Brushes $105K as Altcoins Steal the Spotlight in Tuesday Crypto Frenzy
Markets and Prices
Jamie Redman
Bitcoin Brushes $105K as Altcoins Steal the Spotlight in Tuesday Crypto Frenzy
On Tuesday afternoon, bitcoin appreciated by 2.6% against the U.S. dollar, brushing up against the $105,000 threshold. At the same time, a broad array of altcoins outpaced the leading cryptocurrency: ETH gained 8.5%, SOL advanced 5.9%, and DOGE registered a 4.8% increase.
Bitcoin Brushes $105K as Altcoins Steal the Spotlight in Tuesday Crypto Frenzy
Bitcoin’s Macro Role Grows as Bitfinex Cites ‘Increasingly Favourable’ Sentiment
The broader crypto market charted gains as well, with the overall economy rising 3.12% to reach $3.39 trillion by 5 p.m. Eastern time. Bitcoin climbed from the $102.5K level to a peak of $104,997 before encountering firm resistance near the $105,000 line. The price was further bolstered by the Twenty One Capital announcement revealing the company acquired 4,812 BTC. ETH had surged past $2,700 earlier in the day, retracing slightly by late afternoon but still holding onto an 8.5% gain.
BTC/USD 1H chart via Bitstamp on May 13, 2025.
Total trading volume across the digital asset sector amounted to $144.79 billion, a decrease of 18.56% compared to Monday’s activity. While ETH, SOL, and DOGE posted solid upward moves, a handful of altcoins stood out. Ethena’s ENA climbed 14.4%, KAS moved up by 12.44%, and SPX improved by 11.79%. As of May 13, the altcoin market holds a valuation of $1.311 trillion.
This week, analysts at Bitfinex remarked that optimism surrounding the Federal Reserve and diminished concern over U.S. tariffs have lifted investor sentiment, contributing to renewed confidence in bitcoin. The cryptocurrency’s rise past the $100,000 mark signals its increasing traction as a macro-sensitive asset with the potential for considerable appreciation.
“Recent developments such as the Federal Reserveʼs positive comments on the rate trajectory and evolving clarity around the U.S. tariff situation has allowed confidence to return to the markets and in particular, reignite bullish momentum in bitcoin,” Bitfinex market analysts explained. “This backdrop appears to be creating an increasingly favourable investor sentiment for BTC, especially in an environment where equities remain more sensitive to tightening liquidity conditions.”
The market strategists added:
Bitcoinʼs decisive move underscores its growing role as a macro-sensitive asset with asymmetric upside potential. The move past $100,000 not only confirms the strength of the recovery but may also set the stage for a renewed push toward fresh all-time highs.
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