Bitcoin remains in the spotlight for investors, trading around $103,830, showcasing steady growth amid increasing institutional demand.
Price Structure Supports Bullish Continuation
Currently, Bitcoin is priced at around $103,830, with bulls maintaining market control. The price has consistently held above the $100,000 mark for over a week, indicating strength. Market participants are closely monitoring the $104,900 resistance level as a critical point for further growth.
Institutional Momentum and ETF Inflows Drive Market Strength
According to data from CoinGecko, Bitcoin traded within a narrow 0.5% range and closed above $100,000 for the seventh consecutive day. Institutional interest remains high, forming strong support above the psychological level. ETF inflows have also contributed to the rising demand, with $319.5 million recorded on May 14, including $232.9 million from BlackRock’s IBIT.
Price Movement Outlook
Technical indicators confirm the bullish outlook: the MACD is gaining momentum in the bullish zone and the RSI remains above 50. This indicates that buyers continue to control the market as long as the price remains above $101,000. A confirmed break above $104,900 could pave the way for new all-time highs, including levels of $106,500 and $108,000.
Thus, Bitcoin is demonstrating strong technical metrics and attracting institutional inflows, creating fertile ground for potential growth and a breakout above the key $104,900 level.
