Bitcoin exhibits signs of a pause in its recent bullish run as its current price nears the critical 50-day moving average. This technical indicator typically signals a change in momentum, suggesting potential accumulation fatigue among market participants despite strong long-term gains.
The leading cryptocurrency is currently valued at $114,333, holding a substantial market cap of $2.28 trillion, reflecting an 11.23% increase over the past ninety days. This consolidation phase coincides with historical seasonal patterns that often trigger corrections and sentiment shifts within crypto markets, amplified by current trends of profit-taking and repositioning by traders.
Bitcoin maintains a dominant position across the broader cryptocurrency landscape, commanding a significant 60.84% market share. This ongoing dominance persists even as the market navigates the current cooling phase and anticipates potential shifts implied by the price interaction with the 50-day moving average.