The cryptocurrency market is buzzing with excitement as Bitcoin record price levels appear within reach again. While all eyes remain fixed on BTC’s potential breakthrough, Dogecoin has stolen some spotlight with a remarkable 27% weekly surge.
As of Saturday, May 10, 2025, Bitcoin trades at 103,700—just 5108,786 set in January. This renewed momentum toward a Bitcoin record price has fueled optimism across the broader crypto market, with Ethereum and meme coins like Dogecoin posting even bigger gains.
Dogecoin rallies as bitcoin record price anticipation grows
Dogecoin (DOGE), the popular meme cryptocurrency, has surged to 0.225, marking a 272.52 billion, the highest since mid-February.
Analysts suggest that the growing optimism around a potential Bitcoin record price is driving capital into riskier assets like DOGE. “When Bitcoin approaches key resistance levels, altcoins often see amplified movements,” said market strategist Elena Torres. “Traders are rotating profits into high-beta assets, expecting further upside.”
Despite its recent rally, Dogecoin remains far from its 2021 peak of $0.73. However, the current uptrend suggests renewed interest in meme coins, with other speculative tokens like Moo Deng (MOODENG) and Peanut the Squirrel (PNUT) posting even more dramatic gains.
Ethereum outperforms Bitcoin ahead of key upgrades: numbers speak
While Bitcoin’s push toward a Bitcoin record price dominates headlines, Ethereum (ETH) has been the week’s biggest gainer among major cryptocurrencies, soaring 32% to $2,409.
The surge follows Ethereum’s successful Pectra upgrade, which improved network efficiency and scalability. “Ethereum has been undervalued relative to Bitcoin for months,” noted crypto analyst Mark Richardson. “With institutional interest growing in ETH ETFs and DeFi activity picking up, this rally could have legs.”
The strong performance of ETH and DOGE indicates that traders are diversifying beyond Bitcoin, even as the market watches for a potential Bitcoin record price breakout.
Bitcoin dominance tested as altcoins rally
Bitcoin’s dominance (BTC.D) has dipped slightly this week, falling from 54% to 52% as capital flows into altcoins. However, analysts caution that a confirmed Bitcoin record price could reverse this trend.
“Historically, Bitcoin leads the market, and altcoins follow,” explained Torres. “If BTC breaks its ATH, we could see a ‘risk-on’ surge where money floods back into smaller caps.”
Key factors supporting Bitcoin’s push toward a Bitcoin record price include:
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Strong institutional inflows into spot Bitcoin ETFs
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Macroeconomic uncertainty is driving safe-haven demand
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The upcoming Bitcoin halving in 2026 is creating supply scarcity narratives
Market liquidations hit $1.1 billion as volatility spikes
The rapid price movements have led to significant liquidations, with over $1.1 billion in leveraged positions wiped out on Friday alone. Ethereum shorts bore the brunt of the damage, accounting for nearly 40% of total liquidations.
“Traders betting against ETH and DOGE got caught off-guard,” said Richardson. “The market is repricing risk as we approach a potential Bitcoin record price, and volatility will remain high.”
What’s next for Bitcoin and altcoins?
With Bitcoin just 5% away from its all-time high, the question on every trader’s mind is whether the Bitcoin record price will be shattered in the coming days.
Key levels to watch:
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Bitcoin record price resistance at $108,786
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Ethereum’s next major hurdle is at $2,500
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Dogecoin’s 2025 high of $0.48
If Bitcoin breaks through, analysts predict a fresh wave of FOMO (fear of missing out) buying that could propel the entire market higher. However, failure to surpass the Bitcoin record price could trigger profit-taking and a short-term pullback.
For now, the crypto market remains in a bullish phase, with traders eagerly awaiting the next major move, whether it’s a decisive Bitcoin record price breakthrough or a broader altcoin season.
Stay tuned for updates as the market reacts to these critical price levels. The Bit Gazette will keep an eye on market developments and keep you updated as they break.
