Bitcoin Breaks $121K as XRP, Chainlink, Solana, SUI Gear for Breakout

The crypto market is showing strong bullish momentum, with Bitcoin leading the charge and altcoins preparing for their next leg up. After a series of consolidation phases, many digital assets are coiling.

Bitcoin is closing in on a fresh all-time high, according to analyst Michael van de Poppe. The top cryptocurrency briefly touched $121,000 this week and now sits well above the key $112,000 support level. He believes October could be the month when Bitcoin finally breaks into new record territory.

Van de Poppe added that a short pause in Bitcoin’s rally may set the stage for Ethereum and other altcoins to gain momentum. As investors look to take on more risk, he expects money to flow from Bitcoin into the broader altcoin market, driving the next wave of upside.

The altcoin market is also showing signs of a big move as TOTAL3 tightens up. Historically, after consolidation phases, altcoins have seen gains of 28% and 39%.

Now, the next leg up could push the total altcoin market cap well past $1.3 trillion, making this an important moment for altcoins.

XRP continues to consolidate near $3.40. a sustained consolidation above this level could see measured moves toward $4.90, with potential extensions up to $5.80 based on prior chart patterns.

Chainlink (LINK) has held its yearly open, signaling an important support level after flipping previous resistance into support. The range for LINK appears clear, with $23 as the first target and $27 marking a possible breakout.

Other Layer 1 tokens, such as HYPE and APEX, are also being monitored. These projects benefit from strong backers and centralized messaging, which can drive market activity when executed strategically.