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<p>Bitcoin&#39;s unprecedented rally to nearly $100,000 has sparked intense market activity, with the cryptocurrency momentarily peaking at $99,645 before retreating to $97,790. While the flagship cryptocurrency has seen a 44% surge since Donald Trump&#39;s re-election earlier this month, traders are now eyeing a period of consolidation before another major breakthrough.</p><h4>Bitcoin Stalls at $100,000 Mark</h4><p>Bitcoin’s remarkable ascent has slowed, with a minor correction following repeated attempts to breach the psychological $100,000 barrier. Analysts cite overbought conditions and sell-side pressure near this milestone, leading to a $470 million liquidation event across crypto markets in the past 24 hours.</p><p>Despite the pullback, Bitcoin remains a beacon for institutional investors. Trump&#39;s <a href="https://icogemhunters.com/bitcoin-soars-to-98k-will-it-break-100k-this-week/" rel="noopener noreferrer nofollow">crypto-friendly administration</a>, coupled with global regulatory optimism, has fueled Bitcoin ETFs to amass $107 billion in assets. Trump&#39;s proposal for a national Bitcoin reserve continues to attract market attention, further solidifying the cryptocurrency’s mainstream appeal.</p><h4>Altcoins Shine Amid Bitcoin&#39;s Consolidation</h4><p>As Bitcoin consolidates, altcoins are seizing the spotlight. Dogecoin, XRP, Stellar, and The Sandbox have posted significant gains, with some tokens surging by as much as 50%. Analysts suggest that a resurgence of interest among retail investors and undervalued tokens from the 2020-2021 cycle are driving the altcoin rally. Dogecoin, for instance, reached its highest price since May 2021, supported by its strong community and growing utility.</p><h4>Hong Kong Expands Crypto Trading Options</h4><p>Meanwhile, Hong Kong is emerging as a key player in the crypto landscape. <a href="https://bank.za.group/en" rel="noopener noreferrer nofollow">ZA Bank</a>, Hong Kong&#39;s largest virtual bank, has launched a retail crypto trading service, allowing users to trade Bitcoin and Ethereum directly through their bank accounts. Partnering with <a href="https://www.hashkey.com/en-US/" rel="noopener noreferrer nofollow">HashKey Exchange</a>, the service aims to bridge traditional banking and Web3 ecosystems, marking a significant milestone in crypto adoption.</p><p>With retail crypto trading only recently legalized in Hong Kong, the region has become a hotspot for digital asset innovation. The Securities and Futures Commission (SFC) plans to issue more licenses to crypto exchanges, further boosting the adoption of digital assets.</p><h4>What Lies Ahead for Bitcoin and the Market?</h4><p>The road to $100,000 for Bitcoin may require a cooling-off period, but the overall sentiment remains bullish. Analysts predict a brief consolidation phase before Bitcoin resumes its upward trajectory, potentially setting new all-time highs. Meanwhile, altcoins are expected to continue their rally, offering opportunities for traders and investors alike.</p><p>Hong Kong’s progressive stance on cryptocurrency and retail adoption could further bolster the market’s long-term growth. As Bitcoin leads the charge and altcoins capitalize on the momentum, the crypto market appears poised for an exciting phase of innovation and investment opportunities.</p><p><strong>Disclaimer:</strong> This content is for informational purposes only and should not be considered financial advice. Always conduct thorough research before making investment decisions.</p><p><em>Source: </em><a href="https://icogemhunters.com/crypto-shake-up-bitcoin-stalls-altcoins-take-the-lead/" rel="noopener noreferrer nofollow">ICO Gem Hunters</a></p>

Crypto Shake-Up: Bitcoin Stalls, Altcoins Take the Lead!

ICOGemHunters

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