On May 6, 2025, Bitcoin (BTC) showed relatively stable price performance, hovering around the mark of $94,000.
Here are the key points regarding Bitcoin's performance on this day:
* Price: Bitcoin traded between $93,800 and $94,800 throughout the day, with modest intraday fluctuations.
* Stability after surge: The price appears to have entered a consolidation phase following a notable surge that occurred on April 23.
* Trading volume: There was a slowdown in trading activity compared to the previous week, indicating a "breathing" phase of the market.
* Technical analysis:
* Technical analysts point to key resistance levels between $99,000 and $102,500.
* Key support levels are around $91,700 and $82,800.
* The recent breakout of resistance at $88,745 suggests a continued bullish inclination, although momentum seems to be waning in the short term.
* The 21-period moving average is around $91,600, seen as a potential retest target.
* Market sentiment: Overall sentiment remains favorable, supported by investor interest, although there is short-term caution due to slowing momentum.
* Comparison with gold: Bitcoin did not follow gold's surge, raising discussions about its correlation amid current macroeconomic conditions.
* Forecasts: If Bitcoin remains above $91,700, the next bullish targets may be between $97,920 and $109,354 (all-time high).
In summary, Bitcoin demonstrated stability on May 6, 2025, after a period of strong rise, with the market awaiting new catalysts and economic developments to determine the next price direction.
