Bitcoin (BTC) has seen a 3.6% increase in the past day, surpassing $100,000 for the first time since February 3. This rise has revived bullish sentiment in the market and renewed institutional interest in Bitcoin.

From the flow of ETF investments to substantial corporate holdings, traditional financial institutions are now shaping the narrative regarding Bitcoin's future movements. As BTC targets new highs, analysts are also monitoring critical technical levels and a potential shift towards altcoins dominating the market.

Institutions are taking the lead as Bitcoin sets its sights on new highs and altcoins gain momentum. Bitcoin's surge past $100,000 challenges existing market norms and sparks discussions about what lies ahead.

According to Ki Young Ju, CEO of CryptoQuant, the traditional Bitcoin cycle theory is losing relevance as institutional investors and ETF inflows reshape the cryptocurrency landscape. Companies like Strategy, holding over $53.9 billion in BTC, along with significant spot ETF investments, are driving a new era dominated by traditional finance liquidity.

Furthermore, there's a shift in momentum towards altcoins, with Raoul Pal suggesting that Bitcoin's dominance has peaked, leading to a phase of exponential growth for altcoins known as the "Banana Zone." The Altcoin Season Index by CoinMarketCap has moved out of "Bitcoin Season" territory for the first time in months and now stands at 41.

Institutional engagement remains robust, with BlackRock and Fidelity's ETFs continuing to attract investments. Standard Chartered has doubled down on its bullish outlook, forecasting a new all-time high for Bitcoin in Q2, fueled by ETF demand, adoption by sovereign funds, and Strategy's intention to raise $84 billion, potentially increasing its Bitcoin holdings to over 6% of the total supply.

Bitcoin exchange supply has stabilized after a significant decrease, indicating a bullish trend. A reduced supply suggests investors are holding onto their BTC for the long term, potentially supporting further price increases.

Bitcoin's Ichimoku Cloud analysis points to strong bullish momentum, with the price comfortably above the green cloud (Kumo). The Tenkan-sen and Kijun-sen lines are sloping upwards, further reinforcing bullish sentiment.

Current EMA lines highlight strong bullish momentum for Bitcoin, with short-term averages positioned above long-term ones. Success in surpassing the resistance at $106,296 could propel Bitcoin towards $109,312 and potentially mark a historic test of the $110,000 level. Conversely, failure to maintain support at $99,472 may weaken sentiment and drive the price down to the next significant support at $94,118.