$BTC

Bitcoin's current price is $94,426.43, with a market cap of $1.88 trillion. Here are some key updates.

- *Recent Price Movement*: Bitcoin's price has been fluctuating, with a recent surge in institutional investor purchasing. Despite this, some analysts believe the price is still undervalued.

- *Market Trends*: Bitcoin's profitable supply has neared 90%, signaling strong buyer demand and potentially paving the way for a rally toward $115,000.

- *Resistance Levels*: Bitcoin is attempting to flip key resistance levels, with $100,000 being a significant milestone. Analysts predict a potential price correction to $91,000, but on-chain data highlights healthy market fundamentals.

- *Institutional Interest*: Continued investments from BlackRock's ETF may provide structural support for Bitcoin's price appreciation. Phoenix Group has also expanded its Bitcoin mining operations in Ethiopia.

- *Predictions*: Some analysts predict Bitcoin could reach $210,000 by the end of the year, while others forecast a potential breakdown. Standard Chartered predicts Bitcoin may reach $120,000 in Q2 2025.

*Key Indicators:*

- *MVRV Ratio*: Bitcoin's MVRV ratio is at a critical breakout point, potentially signaling a price rally.

- *Exchange Outflows*: Bitcoin has seen significant exchange outflows, which could lead to a supply squeeze.

- *Funding Rates*: Funding rates have dipped, potentially indicating a short bias in the market.