Analysts: Institutional demand supports the crypto market, the outlook for alt season is still unclear.

According to Jinse Finance and reported by The Block, research analysts indicate that sustained institutional demand is driving Bitcoin to maintain near historic highs, with the current trading price around $118,500. Ether has seen a strong rise to $3,761, benefiting from an increasing number of companies incorporating ETH into their treasury reserves and record inflows into ETFs. Presto Research analyst Min Jung pointed out that although Bitcoin's dominance has fallen to 61%, the current bull market is primarily driven by institutions, and it remains uncertain whether this strength can extend to the broader altcoin market beyond large dinosaur coins. Nick Ruck, the head of LVRG Research, added that the current bull market cycle is attributed to corporations adding Ether and a few major altcoins to their treasuries, as well as the trend of traditional financial companies further integrating DeFi through RWA tokens and stablecoins.