Bitcoin (BTC) is experiencing a market pullback on May 5, 2025, dropping to $94,600, down 0.94% in the last 24 hours, after hitting $97,000 a few days ago. The daily Binance chart shows a decline from a 24-hour high of $95,758.08 to a low of $93,514.10, with trading volume at 14,459.92 BTC ($1.37 billion USDT). The 9-day MA ($94,550.87) and 25-day MA ($95,015.16) are above the current price, signalling short-term bearish pressure, while the RSI at 46.83 suggests neutral momentum, not yet oversold.
This pullback aligns with crypto’s volatility—sharper than stocks—often triggered by profit-taking after rallies, like the surge past $91K in late April. On-chain data indicates support at $93,514.10, with a downside risk of $93,367.73 if breached. For crypto traders, this dip could be a strategic entry point, especially if BTC holds support and resumes its broader uptrend, as seen with its 40.22% year-over-year gain.
This dip might feel familiar as a potential setup for another rebound.
