Altcoin Surge Continues Amid Institutional Holding Range

Bitcoin is currently trading near $77,000 in what analysts describe as an institutional holding range rather than a breakout or a decline. Support sits between $76,000 and $77,000, with resistance at $78,000-$79,000 and again at $80,000-$82,000.

Over the past 30 days, altcoins have outperformed Bitcoin, and leverage has followed a similar pattern. Open interest in altcoin perpetual futures has surpassed Bitcoin's for the first time since late 2024, suggesting traders are increasingly favoring altcoins over Bitcoin in the near term.

Solana turned bullish on the weekly chart the week of August 24 and has gained about 8.6% since then, trading near $103. Analysts say the trend holds as long as Solana does not close a week below roughly $78. The token remains about 65% below its January 2025 high of $293.

A recent supply change approved by the Solana community through an on-chain vote is reducing the number of tokens in circulation, a shift that could support prices if demand continues to rise.