$BTC

As of today, May 6, 2025, the price of bitcoin (BTC) is hovering around $94,000, showing a slight decline amid overall market uncertainty.

Technical Analysis:

Support Level: $93,000 — a key level that is holding the price from further decline.

Resistance Level: $97,000 — breaking through this level could pave the way to the $100,000 mark.

Fundamental Factors:

Macroeconomic Signals: Recent statements from the U.S. president about a possible recession and upcoming trade agreements are causing uncertainty in the markets, which may put pressure on the price of bitcoin.

Profit Taking: Blockchain analysis shows that some BTC holders are taking profits, which may also contribute to a short-term price decline.

Forecast:

In the short term, bitcoin may continue to fluctuate in the range of $93,000–$97,000. Breaking the resistance level at $97,000 may signal the continuation of an upward trend. However, the current macroeconomic conditions and profit-taking by investors may limit growth in the coming days.