Bitcoin's price remains stable at $94,244, reflecting a 0.21% increase over the past 24 hours. The market awaits the Federal Reserve's policy meeting on May 7, which could influence future price movements.

Market Overview

  • Current Price: $94,244

  • 24-Hour High/Low: $95,000 / $92,200

  • Market Cap: $1.87 trillion

  • 24-Hour Volume: $24.36 billion

The Motley Fool

The Relative Strength Index (RSI) has cooled to 61, suggesting a potential for further gains. Meanwhile, the MACD indicator shows a bullish crossover, albeit with weakening momentum.

Institutional Interest

Institutional investments continue to bolster Bitcoin's position. MicroStrategy's recent acquisition of 25,370 BTC, valued at approximately $2.44 billion, underscores growing confidence in the asset. Additionally, Bitcoin spot ETFs have seen net inflows exceeding $4 billion since late March.

Conclusion

Bitcoin's steady performance and institutional backing suggest a bullish outlook. However, upcoming economic indicators, such as the Federal Reserve's policy decisions, will play a crucial role in determining the next price trajectory.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk and volatility. Always conduct your own research (DYOR) and consult with a licensed financial advisor before making any investment decisions.