Bitcoin price faces pressure from regulatory uncertainties and market indecision. However, institutional investments continue to grow.
Market Overview
The price of Bitcoin has declined amid renewed regulatory concerns surrounding pending U.S. crypto legislation. Despite positive signals earlier this week, BTC has failed to hold above the critical $108,500 mark.
Bitcoin Price Analysis
As of press time, Bitcoin is being sold at $108,071.64, marking a 0.93% loss compared to the previous day. The market cap has decreased to $2.14 trillion, while the intraday trading volume surged 18.57% to $44.24 billion. Technical analysis indicates that the price is testing the midline of the Bollinger Bands with resistance at $110,046 and support near $106,890.
FAQs
Bitcoin is facing resistance near $108,500 due to selling pressure. The current price of Bitcoin is $108,071.64, with a 1.07% change today. Resistance lies at $110,046, while critical support is at $106,890.
The current state of the Bitcoin market is characterized by a decline in prices amid regulatory uncertainty; however, interest from institutional investors remains strong.
