As of May 4, 2025, Bitcoin (BTC) is trading at approximately $95,681, reflecting a slight intraday decline of 0.75%.
Technical Analysis:
1. BTC has broken out of a descending channel and pennant pattern, indicating bullish momentum.
2. Key resistance levels are at $100,000 and $107,000, while support levels to monitor are $92,000 and $85,000.
3. The Relative Strength Index (RSI) suggests strong price action; however, lower trading volumes warrant caution.
Fundamental Analysis:
4. Institutional adoption is increasing, with firms like MicroStrategy expanding their BTC holdings, now totaling over 553,000 BTC.
5. The U.S. government's establishment of a Strategic Bitcoin Reserve, holding approximately 198,000 BTC, underscores growing institutional confidence.
6. Bitcoin ETFs have attracted significant inflows, enhancing liquidity and mainstream acceptance.
7. Bitcoin's hash rate is rising, indicating increased network security and miner confidence.
8. Analysts project BTC could reach between $160,000 and $200,000 by the end of 2025, driven by institutional and governmental adoption.
9. Bitcoin's dominance in the crypto market has reached 64%, the highest since 2021, reflecting a shift towards BTC over other cryptocurrencies.
10. Macroeconomic factors, such as U.S. interest rates and inflation concerns, are influencing investors to view Bitcoin as a hedge against currency devaluation.
