Bitcoin is showing strong signs of recovery, holding above $86,000 and approaching the $90,000 range. Market sentiment is shifting, 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 pointed out the altcoins that could lead the market in this new bullish phase.
Snipper stated that Bitcoin is in a strong position, emphasizing that it has 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.
Related: Bitcoin Spikes to 87K: This One’s on the Fed for Keeping Rates Steady
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 held above key support levels.
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.
Related: Bitcoin Speculative Trading Loses Steam: Is Trump’s Crypto Push to Blame?
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.
