As of the morning of May 31, 2025, the price of Bitcoin ($BTC ) is trading around $103,648, down about 2% from 24 hours earlier. This is a correction after BTC reached a historical peak of $111,970 on May 22, 2025.
🔍 Main reasons for the slight decline:
Profit-taking sentiment: After BTC reached its peak, many investors took profits, creating selling pressure on the market.
Macroeconomic situation: Concerns about inflation and the monetary policy of the Federal Reserve (FED) are causing investors to be more cautious.
Global market volatility: Geopolitical and global economic factors also contribute to the volatility of the crypto market.
📈 Short-term outlook:
Strong support: The $102,000 – $103,000 range is considered strong support. If BTC holds above this level, the chances of recovery are high.
Nearby resistance: The $106,000 – $107,000 level is the nearest resistance that BTC needs to overcome to continue its upward trend.
🚀 Positive factors supporting the market:
Interest from large institutions: Investment funds and financial organizations continue to show interest and invest in BTC.
Support policies from the government: Some countries are considering or have implemented support policies for the crypto market.
Technology development: The development of blockchain technology and related applications continues to attract investor attention.
📊 Conclusion:
BTC is in a healthy correction phase after a strong increase. If it maintains above the current support zone, BTC may soon recover and aim for higher price levels in the near future. Investors should closely monitor market developments and consider appropriate investment strategies.
*Note: The information above is for reference only and is not investment advice.*
