$BTC
As of May 6, 2025, Bitcoin (BTC) is trading at approximately $94,055, reflecting a slight decline of 0.00006% from the previous close. The day's trading has seen a high of $95,118 and a low of $93,587.
The recent dip in Bitcoin's price is attributed to several macroeconomic factors. Notably, former President Donald Trump's announcement of new tariffs has introduced uncertainty into the markets, while investors are also awaiting the Federal Reserve's upcoming decision on interest rates. These developments have led to cautious sentiment among traders, contributing to Bitcoin's decline below the $95,000 mark.
Despite the current downturn, institutional interest in Bitcoin remains robust. BlackRock's recent acquisition of $2.5 billion worth of BTC underscores continued confidence in the cryptocurrency's long-term prospects. Additionally, on-chain data indicates that 88% of the current BTC supply is in profit, suggesting that many investors view the $75,000 to $90,000 range as a buying opportunity.
Analysts maintain a bullish outlook for Bitcoin's future. Some projections suggest that if gold prices surge to $5,000, Bitcoin could potentially reach between $155,000 and $285,000, based on historical performance patterns.
In summary, while Bitcoin is experiencing short-term volatility due to macroeconomic uncertainties, strong institutional investments and positive on-chain metrics support a favorable long-term outlook.