Bitcoin (BTC) broke through $31,000 on April 14, reaching new ten-month highs, while altcoins, led by Ethereum (ETH), surged higher, prompting talk of an "altseason." Analysts noted that Bitcoin looks strong but will likely experience some shallow corrections in an upward trend, with $29,700 being a key level to focus on. While sentiment was peppered with references to "altseason," commentators acknowledged that Bitcoin is still in the driver's seat mid-term, and it would take a cooling off for BTC price action to stimulate rapid altcoin growth. Nonetheless, the total altcoin market cap added $62 billion in two weeks, and some analysts believe that copycat gains on altcoins should follow an initial surge led by Bitcoin.

(By WILLIAM SUBERG)