Bitcoin hits highest level in 3 months before pulling back as altcoins consolidate

Bitcoin climbed to its highest level in three months before retreating amid profit-taking, while altcoins largely consolidated rather than extend gains. The pullback appeared driven by short-term position squaring and a rotation of risk rather than a fundamental breakdown in momentum. Market breadth narrowed as traders favored Bitcoin, meaning BTC is currently setting the near-term market direction. Key implication: renewed Bitcoin leadership raises the likelihood that future rallies will be BTC-led, but expect continued consolidation and episodic volatility before a sustained breakout.