Bitcoin and the aggregated crypto markets have incurred a sudden influx of buying pressure that has allowed BTC to firmly climb into the five-figure price region. This surge marks a continuation of the upwards momentum that the crypto has been incurring over the past several days.<\/p>\n\n\n\n
Now, analysts are noting that Bitcoin\u2019s increasing dominance over the markets and robust technical strength may allow the cryptocurrency to climb into the upper-$10,000 region in the near-future.<\/p>\n\n\n\n
At the time of writing, Bitcoin<\/a> is trading up over 4% at its current price<\/a> of $10,400, which is up significantly from its 24-hour lows of $9,900 that were set yesterday after BTC was rejected at $10,100.<\/p>\n\n\n\n This positive price action has come about after a long period of downwards pressure experienced by BTC, which was first sparked in late-June when the crypto was rejected after moving to highs of $13,800, leading to a month-long downtrend.<\/p>\n\n\n\n This downtrend sent Bitcoin from highs of $13,800 to lows of $9,100 throughout the course of July, which drastically shifted the overall market sentiment for the worst and led many analysts to believe that a movement down towards the sub-$9,000 region was imminent.<\/p>\n\n\n\n Despite this, the recent price surge that has allowed for BTC to incur some levels of technical strength has also allowed it to gain even further dominance over the aggregated crypto markets.<\/p>\n\n\n\n \u201cBTC – dominance flexing,\u201d Chonis Trading, a popular cryptocurrency analyst, explained in a recent tweet.<\/p><\/blockquote>\n\n\n\n