Bitcoin Today: Holding Ground at $104K Amid Mixed Signals
Bitcoin is hovering near $104,000 in a tight trading range today, as traders watch for the next big move. Key levels mark this range: support around $103K held firm, while resistance looms at $106K–$108K. Momentum indicators are lukewarm and volatility has dried up, hinting at a calm before the storm.
Macro signals are mixed. A Fed rate pause and ballooning U.S. debt stoke Bitcoin’s “digital gold” narrative, but no bullish catalyst has appeared yet. Meanwhile, institutional interest stays strong – BlackRock’s Bitcoin ETF now holds ~3.25% of all BTC, underscoring big money’s confidence.
Market sentiment is cautious: retail traders are bearish (often a contrarian sign) as whales quietly accumulate. Derivatives data show traders hedging, with slightly more protective puts than calls.
Question: Will Bitcoin’s next move be a breakout for the bulls or a breakdown to test support again?
