The current price of Bitcoin is $102,378.
Technical Analysis
Immediate Support and Resistance
The current support level is at $101,300, while the resistance is between $106,500 and $107,000.
RSI (Relative Strength Index)
The 14-day RSI is at 80%, indicating an overbought condition.
MACD (Moving Average Convergence Divergence)
The MACD is in positive territory, indicating bullish momentum.
Volume
There has been a decrease in trading volume, indicating a consolidation phase.
Fundamental News
The Senate Banking Committee has appointed Senator Cynthia Lummis as the head of the Digital Assets Subcommittee. Her support for a strategic bitcoin reserve is increasing optimism in the market.
BlackRock CEO Larry Fink has requested approval from the SEC for the tokenization of bonds and stocks, aiming to democratize investing.
Bitcoin reached an all-time high of $109,000, driven by increased interest following endorsements from Trump and Elon Musk, as well as Trump's plans to launch his own cryptocurrency.
James Howells, a Welsh IT expert, lost a hard drive containing 8,000 Bitcoins in 2013, which is now worth approximately 742 million euros. His recovery efforts have been unsuccessful so far.
Bitcoins price was highly volatile during Trump's inauguration, first reaching $109,300 and then retreating to $102,800 when Trump failed to mention Bitcoin in his speeches.
