Bitcoin's current price is $103,566.59, with a 1.65% increase, reaching a high of $104,976.25 and a low of $101,429.70. The market capitalization stands at $2.08 trillion.
Recent Trends
Bitcoin's recent rally has been fueled by favorable macroeconomic conditions, including a potential US-China trade deal and declining inflation rates. However, traders are locking in profits ahead of the US Consumer Price Index (CPI) release, causing a slight dip in Bitcoin's price.
Expert Analysis
According to Bitfinex analysts, if macroeconomic conditions remain supportive, short-term dips will likely be absorbed quickly, keeping Bitcoin's bullish outlook intact. They predict a potential new leg toward fresh highs, with cycle targets of $150,000 to $180,000 in 2025-2026 ¹.
Market Sentiment
Santiment's Network Realized Profit/Loss metric shows that Bitcoin holders are booking profits after a massive gain of over 10% in the previous week. This profit-booking activity is likely driven by the upcoming US CPI release, which could inject fresh volatility into the market ¹.
Key Support and Resistance Levels
- Support: $98,500
- Resistance: $104,000 - $106,000
- Potential upside target: $110,000 and beyond
