Bitcoin and most altcoins started the month well, with the total market cap of all coins jumping to over $3 trillion.

One of the biggest movers was JasmyCoin (JASMY), with the token rising by 6.2%. Other tokens that moved up include Chainlink (LINK), Dogecoin (DOGE), and Pi Network (PI), all of which gained over 5%.

These tokens moved higher as Bitcoin (BTC) finally broke out of its two-week consolidation and rose above the key resistance level at $97,000 for the first time since February.

After this breakout, the next key level to watch is the all-time high of around $105,000. If the coin manages to break this level, then the next key resistance level is at $120,000, which is the psychological barrier.

When Bitcoin is in a strong bull market, altcoins usually follow along well. This is because most of the liquidity in the crypto market is driven by BTC.

Due to the lack of new catalysts, Bitcoin has been moving sideways for the past two weeks. However, the coin finally broke out of this range as Ark Invest estimated that the coin will hit $2.4 million by 2024.

Meanwhile, Standard Chartered analysts predict that Bitcoin will surge to $120,000 by the end of the year. In an emailed statement to crypto.news, Joe Burnett, an analyst at Unchained, estimated that it could hit $250,000, saying:

“I definitely would not be surprised to see Bitcoin reach $200,000, or $250,000 this year. If the price gets going soon and breaks a new all-time high, I think things could get really crazy, and actually go parabolic… all the narratives are set, the macro conditions are great.”

Altcoins also moved higher as the US stock market also saw green. The Dow Jones, S&P 500, and Nasdaq 100 indices all rose by over 1%, continuing a rally that started as several markets saw a period of extreme selling pressure following President Trump’s “Liberation Day” tariff decleration.

These assets are rising as market participants predict that Donald Trump will begin rolling back tariffs following the latest US GDP data. The report showed that the economy contracted in the first quarter as imports surged.