#RiskRewardRatio
Bitcoin's current price is around $84,894.16, with a 1.01% increase over the last 24 hours. Its market capitalization stands at approximately $1.68 trillion. Here are some key points about Bitcoin's current state ¹ ²:
- *Price Movement*: Bitcoin's price fluctuated recently, rising to $86,500 before dropping to $83,000. It briefly fell below $80,000 but recovered, trading above $84,000.
- *Market Trends*: Some analysts predict Bitcoin may hit a new all-time high in three months, citing a link between Bitcoin's price and the M2 money supply.
- *Trading Volume*: Bitcoin's 24-hour trading volume is around $22.03 billion, with a volume-to-market cap ratio of 1.3%.
- *Circulating Supply*: The current circulating supply of Bitcoin is approximately 19.85 million, with a maximum supply of 21 million.
- *Technical Analysis*: Indicators suggest a neutral signal, with some analysts predicting a potential upward movement due to a falling wedge pattern and breakout above its upper boundary.
Some potential price targets to watch ³:
- *Resistance Levels*: $87,478-$88,799
- *Support Levels*: $74,000 (significant support zone)
- *Potential Targets*: $81,800, $79,800, and $76,000 (if price stays below $85,800)
Keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. It's essential to stay informed and consider multiple sources before making investment decisions.