Crypto Prices Today: Bitcoin Surpasses $105,000 as Market Anticipates Fed Signals and Institutional Flows
Bitcoin surged past $105,000 on Monday, recovering from weekend lows due to robust institutional demand and cautious optimism among investors ahead of significant macroeconomic events.
As of 1:23 PM IST, the leading cryptocurrency was priced at $105,366, reflecting a 1% increase over the past 24 hours. In contrast, Ethereum experienced a slight decline of 0.1%, trading at $2,506.
According to CoinMarketCap, the global cryptocurrency market capitalization increased by 0.9% to reach $3.29 trillion, with several altcoins also showing gains. XRP, Solana, Dogecoin, and Cardano saw increases ranging from 0.3% to 1.2%, while Bitcoin's market dominance remained stable at 63.7%.
"Bitcoin is maintaining a steady position above $105,000, recovering from weekend lows of $103,200," stated Alankar Saxena, Co-founder and CTO of Mudrex. "The market is now closely monitoring macroeconomic indicators, particularly the upcoming speech by Fed Chair Jerome Powell. From a technical perspective, $106,000 represents a crucial resistance level. A breakout above $106,800 could propel the price towards $108,000."
Conversely, Saxena warned that failing to maintain current levels could result in Bitcoin retracing to around $103,500.
