The current price of Bitcoin (BTC) is $94,952.42, with a market cap of $1.88 trillion and 0.38% daily growth. Bitcoin’s dominance in the crypto market is at 52.17%, with a trading volume of $23.26 billion in the last 24 hours. The fully diluted valuation of Bitcoin stands at $1.99 trillion, with a circulating supply of 19.8 million BTC out of a total of 21 million BTC. The global crypto market cap has increased to $3.33 trillion, but the trading volume has decreased by 34.93%.
In terms of technical indicators, Bitcoin is currently consolidating around $95,000, with resistance at $96,000 and support at $94,000. The Relative Strength Index (RSI) is at 45.82, indicating neutral momentum, with a moving average of 51.58 suggesting mild bearish pressure in the short term. The Chaikin Money Flow (CMF), at 0.02, shows slightly positive buying pressure, indicating moderate inflows into Bitcoin despite the drop in trading volume.
The moving averages also provide insight, with the 50-day moving average acting as immediate resistance above the current price, and the 200-day moving average below the price, confirming a long-term bullish trend. There has been no significant moving average crossover, indicating indecision among traders. In summary, Bitcoin’s price remains in a consolidation phase, with key levels at $96,000 resistance and $94,000 support, and technical indicators suggesting mixed momentum.
Overall, Bitcoin’s current price and market cap indicate a positive trend, with potential for a breakout above $96,000 leading to a rally toward $98,000. However, a breakdown below $94,000 could trigger a drop to $92,000. The technical indicators, including the RSI, CMF, and moving averages, provide additional insights into Bitcoin’s price movements and potential future direction. Staying updated on these indicators can help traders make informed decisions in the volatile cryptocurrency market.
