Bitcoin's Dominance: Riding High in the Crypto Wave

The crypto market is extremely bullish as we see that Bitcoin is continuously rising, and at the time of writing, the price of Bitcoin is around $66860.

We have seen in the last 2 days that many liquidity are grabbed, and around billions of dollars are being taken from the traders. It's for the first time since 2021 Bitcoin's greed level reached its extreme levels of 90.

What does this mean? The greed index reaches 90; this means that investors are very greedy now, and they are blindly buying Bitcoin and other cryptocurrencies.

As I recently checked, the Bitcoin dominance was above 55, which means the dominance is very high. Yet, altcoin season has not reached.

But it is so; once its price gets stable, alt season will start, and the prices of altcoins will rise if #Bitcoin stays stable.

We are almost near to the all-time high, that is $69000.

This will be a great fight between the bulls and bears.

Bulls will try to take the price even higher than its all-time high, but bears will force to give Bitcoin a huge correction.

For the time being, I don't see Bitcoin weak. And I think that Bitcoin will continue to rise and reach its all-time high.

The main reason is the buying of huge companies and the upcoming event of Bitcoin halving.

What do you people think about #bitcoin? Will it continue to rise? Will be glad to see your answers in the comment section.

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IMAGE TAKEN FROM CANVA

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