$BTC

As of May 6, 2025, Bitcoin (BTC) is trading at approximately $94,184, experiencing a slight decline of 0.5% over the past 24 hours. The intraday high reached $95,118, while the low dipped to $93,702.

Recent data indicates that long-term BTC holders may consider taking profits around the $99,900 mark, aligning with historical behavior of selling at 350% paper gains. 

Additionally, two Bitcoin whale wallets, dormant for over a decade, have moved approximately $324.2 million worth of BTC, signaling potential shifts in market dynamics. 

On the institutional front, Bitcoin ETFs experienced a net outflow of $57.8 million on May 6, indicating a bearish sentiment among some investors. 

Despite these developments, Bitcoin’s dominance in the crypto market has risen to 63.46%, suggesting a consolidation phase where investors may be favoring BTC over altcoins amid market uncertainties. 

Looking ahead, market participants are closely monitoring the upcoming Federal Open Market Committee (FOMC) meeting. While the Federal Reserve is expected to maintain current interest rates, any dovish signals could bolster Bitcoin’s appeal as an alternative investment.