Bitcoin at $116K: CME Gap Closed, Ethereum Eyes $5,400, and Altcoin Rotation Sparks Debate

Bitcoin has reached $116,000, a move that closed the CME gap from three weeks ago and reignited discussion about its next targets.

Analysts now see the market entering a pivotal stage, with attention shifting not just to Bitcoin but also to Ethereum and altcoins.

Bitcoin: CME Gap Closure and Next Levels

Daan Crypto Trades confirmed that the $117K CME gap has been filled, marking an important technical milestone. The only significant unfilled gap on the chart now lies around $92K, though the analyst cautioned traders not to obsess over distant levels. Instead, he emphasized watching short-term momentum, which continues to favor bulls as Bitcoin consolidates above $115K.

Ethereum: Rotation vs. Bitcoin Strength

Meanwhile, Ethereum is showing renewed strength against Bitcoin. Merlijn The Trader pointed out that the ETH/BTC chart mirrors past altseason bottoms, with a bullish crossover signaling the possibility of Ethereum climbing toward $5,400. Previous cycles in 2017 and 2021 saw ETH surge after similar crossovers, making this setup one to watch.

Altcoin Rotation in Focus

Historically, periods of Bitcoin consolidation have preceded altcoin rallies. With Ethereum showing bullish structure and XRP hinting at a breakout, traders are questioning whether Bitcoin’s dominance may soon cool, opening the door for another rotation into majors and top-performing Layer-1s.

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For now, the crypto market faces a key inflection point: if Bitcoin can hold above $116K and Ethereum sustains momentum, the stage may be set for a broader altseason echo of past cycles.