Why Bitcoin Could Extend Its Market Dominance As It Approaches $60K

Why Bitcoin Could Extend Its Market Dominance As It Approaches $60K


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”.

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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%

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