Greed

2024

Bitcoin

April

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Bitcoin's market dominance has now <a href="https://www.tradingview.com/chart/yAgtHh3T/?symbol=BITCOIN+DOMNANCE" rel="noopener noreferrer nofollow">climbed back</a> above the 57% level, according to data provided by TradingView.&nbsp;
On Aug. 25, it peaked at 57.6%, coming close to reaching a new 2024 peak.&nbsp;
Earlier this month, Bitcoin dominance surged to 57.7% reaching its highest level since April 2021.&nbsp;
Ethereum, the main Bitcoin competitor, has been lagging behind the major cryptocurrency despite the recent launch of spot ETFs in the U.S.&nbsp;
As <a href="https://u.today/bearish-ethereum-warning-issued-by-tuur-demeester" rel="noopener noreferrer nofollow">reported by U.Today</a>, cryptocurrency analyst Tuur Demeester recently predicted that the ETH/BTC pair could end up collapsing to as low as 0.03 BTC.&nbsp;
Bitcoin dominance is now up 11% since the start of the year. In March, the leading cryptocurrency reached its current peak, but it has since pared some gains.&nbsp;
Meanwhile, Bitcoin is now back into greed territory after swiftly recovering from a devastating crash that took place earlier this month.&nbsp;
The Fear &amp; Greed indicator shows 55 points out of 100 as of Aug. 26. For comparison, the cryptocurrency was in "extreme greed" territory just a few weeks ago following a massive price crash.
Over the past week, Bitcoin spot ETFs attracted a net inflow of $506 million. BlackRock's IBIT accounted for the majority of these inflows with $318 million. The net value of these products now stands at $58.4 billion.&nbsp;
This week, Bitcoin could experience increasing volatility because of the upcoming macro data in the US, including the core PCE index for July. &nbsp; &nbsp;

Bitcoin Dominance Aiming for New Multi-Year High

U_Today

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