Bitcoin is moving with conviction to the $60,000 area. At the time of writing, BTC’s price trades at $57,681 with a 4% profit in the weekly and daily charts.
BTC moving sideways in the daily chart. Source: BTCUSD Tradingview
The general sentiment in the market remains bullish as Bitcoin has been able to shake off the bears over the past days. Traders and savvy investors have called BTC’s recent price action the beginning of the “Bitcoin Season”.
Related Reading | TA: Bitcoin Starts Fresh Rally To $60K, What Could Fuel More Upsides
During this period, BTC takes over the spotlight and rallies absorbing capital from other cryptocurrencies. As a consequence, the Bitcoin Dominance trends to the upside as it has since mid-September standing at a 44.65%