Bitcoin has experienced its second-largest monthly gain this year, leading to a bullish technical pattern on the daily chart. The digital asset is trading at $34,545, up less than 1% on the day. Bitcoin’s performance in October has been one of the best months this year, with a rise of over 28%. This surge is seen as a shift of capital from altcoins to bitcoin rather than a net inflow. The market also witnessed a “golden cross” on the daily chart, which is considered a strong indicator of an impending upward trend. Bitcoin’s dominance has also increased, reaching over 54% and impacting the total digital assets market cap.
AI Sentiment: Positive
