The price movement of Bitcoin towards $100,000 opens the doors to SHIB, FIL, MNT, and AAVE

The strength of Bitcoin has driven several altcoins upwards, with SHIB, FIL, MNT, and AAVE showing promise in the short term.

Bitcoin is consolidating just below the $100,000 level, suggesting that bulls anticipate the upward trend will continue. The founder and CEO of Global Macro Investor, Raoul Pal, posted a chart on X suggesting that Bitcoin could form a local top above $110,000 in January.

Several analysts are optimistic about the upcoming year. The co-founder and head of research at Fundstrat Global Advisors, Tom Lee, stated that Bitcoin could soar to $250,000 by 2025.

It's not just BitcoinBitcoin$95,712 in the spotlight. Traders seem to be gradually shifting their focus to altcoins. Analyst Mikybull Crypto mentioned in a post on X that Bitcoin's dominance has fallen below its two-year support line, indicating that cryptocurrency markets are "officially in altcoin season."

Could Bitcoin surpass $100,000 and trigger a new altcoin rally? Let's take a look at the top 5 cryptocurrencies with a solid chart structure.

Bitcoin Price Analysis

Bitcoin faces resistance near the psychologically crucial level of $100,000, but a positive sign is that the price remains above the upward trend line.