- Bitcoin surged past $111K, making it the sixth-largest global asset, with Michael Saylor urging investors to keep buying despite overbought signals.
- While bullish momentum dominates, experts warn that a market correction could be near as profit-taking looms.
Bitcoin is back in the spotlight after soaring past the $110,000 mark to trade at $111,056.55, officially making it the sixth-largest asset in the world by market capitalization. This historic rally has put Bitcoin just behind tech titans like Microsoft, NVIDIA, and Apple, as well as gold. But while celebrations are loud, whispers of caution are getting louder
Leading the cheer squad is none other than Michael Saylor, founder of Strategy (formerly MicroStrategy), who didn’t miss a beat before declaring on X, “If you’re not buying Bitcoin at the all-time high, you’re leaving money on the table.” His statement triggered waves of support—and skepticism. While crypto enthusiast Adam Livingston backed the bullish sentiment, others like Adaora Favour Nwankwo slammed Saylor’s advice, warning of potential financial disaster: “Buy all-time high and get rekt.“
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From a technical standpoint, Bitcoin’s surge seems justified. The Relative Strength Index (RSI) is soaring above 70, indicating strong bullish momentum. However, this also places BTC firmly in overbought territory—a warning sign that often precedes a correction.
Adding to the complexity, data from IntoTheBlock reveals that 100% of Bitcoin holders are currently in profit. While that sounds like a dream scenario, it also raises the likelihood of profit-taking, which could introduce downward pressure on the asset.
So, where is Bitcoin headed next? The charts scream bullish, but market psychology whispers caution. A euphoric rally can quickly turn into a painful reversal—especially when everyone is on the winning side.
As Bitcoin continues its historic climb, investors are left to answer a pressing question: Is now the time to jump in—or to step back and brace for the dip?
