Bitcoin's current price stands at $94,952.42, reflecting a 0.38% increase over the last 24 hours. The market cap of Bitcoin is $1.88 trillion, accounting for 52.17% market dominance.
Current Price and Market Metrics
Bitcoin's 24-hour trading volume is $23.26 billion, indicating a 1.23% volume-to-market-cap ratio. The fully diluted valuation (FDV) of Bitcoin reached $1.99 trillion, with a circulating supply of 19.8 million BTC out of a total maximum supply of 21 million BTC. The global crypto market cap has risen to $3.33 trillion even as the overall trading volume has dropped by 34.93% to $81.23 billion over the last 24 hours.
Technical Indicators for BTC
The daily chart indicates Bitcoin consolidating near $95,000. Immediate resistance is at $96,000 while support is at $94,000. The Relative Strength Index (RSI) is at 45.82, indicating neutral momentum, with its moving average at 51.58 suggesting mild bearish pressure in the short term. Chaikin Money Flow at 0.02 shows slightly positive buying pressure, indicating moderate inflows despite recent volume drops.
Future Outlook and Conclusion
Bitcoin's price remains in a consolidation phase, with critical resistance at $96,000 and support at $94,000. Technical indicators suggest mixed momentum. A breakout above resistance could spark a rally toward $98,000, while a breakdown might trigger a drop to $92,000. Current market conditions continue to attract attention from investors tracking future price movements.
Bitcoin continues to garner interest from both speculators and long-term investors, with its price fluctuations and trading volume changes. Technical indicators offer mixed signals, but signs of a bullish trend remain undecided, making the upcoming weeks critical for the market's direction.
