$BTC

The daily chart indicates that bitcoin is in a consolidation phase after peaking near $112,000. This level formed a double top, which triggered a pullback toward the psychological support at $100,000. Despite this decline, the support structure remains intact, with notable buy interest re-emerging near $102,000. Oscillators on the daily timeframe paint a mixed picture, with the relative strength index (RSI) at 52 and the commodity channel index (CCI) at -59, both signaling neutral momentum. A bearish engulfing pattern, however, continues to weigh on sentiment, even as the declining volume suggests that selling pressure may be weakening.

At 8 a.m. Eastern time, bitcoin is trading at $104,881 to $105,266 over the past hour, with a market capitalization of $2.08 trillion and a 24-hour trading volume of $24.93 billion. The 24-hour intraday price range spanned from $103,655 to $105,213, reflecting a tightly wound consolidation phase ahead of a potential breakout.