$BTC Market Update – May 17, 2025
As of May 17, 2025, Bitcoin ($BTC ) is trading at approximately $103,178, experiencing a slight decline of 1.08% from the previous day. The intraday high reached $104,302, while the low touched $102,796.
Technical Analysis
Bitcoin(#BTC )recently broke above a descending triangle pattern on the 4-hour chart, retesting the $104,000 zone and briefly spiking toward $104,200. This breakout suggests a potential bullish trend, although resistance near $104,900 remains a hurdle.
Market Sentiment
The Relative Strength Index (RSI) stands at 52, indicating a neutral market sentiment. The Fear & Greed Index displays a score of 71, reflecting a state of 'Greed' among investors.
Institutional Activity
Invesco's Bitcoin ETF reported zero net inflows on May 17, 2025, suggesting a pause in institutional investment through this vehicle. This stagnation may indicate a cautious approach by large investors awaiting clearer market signals.
On-Chain Metrics
Long-term Bitcoin holders (holding for 150+ days) are accumulating, with BTC held on exchanges dropping to 2.44 million—the lowest in six years. This trend suggests reduced selling pressure and a strong belief in future price appreciation.
Conclusion
While Bitcoin experiences short-term fluctuations, technical indicators and on-chain metrics point toward a potential bullish trend. Investors should monitor resistance levels and institutional activity for further market direction.
