Bitcoin’s price currently stands at $97,838, reflecting a 1.12% increase over the past 24 hours. The trading volume amounts to $34.33 billion.
Immediate resistance is at $99,298, while support holds at $95,262.
The market capitalization of Bitcoin has surged to $1.93 trillion, with a 13.17% rise in 24-hour trading volume, which now totals $34.33 billion.
The fully diluted valuation (FDV) is at $2.05 trillion, highlighting Bitcoin’s dominance in the crypto market. With a circulating supply of 19.8 million BTC and a maximum cap of 21 million BTC, Bitcoin remains the most valuable cryptocurrency. The volume-to-market cap ratio of 1.77% further indicates sustained investor interest.
Bullish Indicators for ETH
On the daily chart, Bitcoin faces immediate resistance at $99,298, as shown by recent price movements. A breakout above this level could drive the price beyond the psychological barrier of $100,000. Conversely, the key support lies at $95,262, represented by the 9-day moving average. Should the price fall below this, the next support zone could be $93,500.
The Relative Strength Index (RSI) is currently at 53.45, indicating a mildly bullish sentiment in the market. However, the RSI average at 47.63 suggests that buying pressure is only slightly outweighing selling pressure. Traders should watch for the RSI moving closer to 70, which signals overbought conditions.
The 9-day moving average (MA) at $97,653 remains above the 21-day MA at $95,262, forming a bullish crossover. This pattern suggests an upward trend may continue, provided the broader market sustains its current momentum. A bullish crossover typically attracts more buyers and could result in further price gains.
If Bitcoin successfully breaches the $99,298 resistance, it could target $102,000 as its next major milestone. In such a scenario, investor confidence and trading volume would likely see a significant boost. On the downside, failure to hold the $95,262 support might result in a drop toward $90,000, which could trigger a sell-off among short-term traders.
Bitcoin’s recent price action reflects steady market activity supported by rising trading volume and favorable technical indicators. The RSI and moving averages imply that the cryptocurrency might test higher levels if market conditions remain supportive.
