As of May 6, 2025, Bitcoin (BTC) is trading at approximately $94,480, reflecting a modest gain of 0.15% over the past 24 hours. The cryptocurrency has experienced a trading range between $93,702 and $95,118 today.
Recent market dynamics have been influenced by significant institutional activities. Notably, on May 5, Bitcoin ETFs saw net inflows totaling $425.5 million, with BlackRock’s IBIT ETF leading with $531.2 million in positive flow. Conversely, Fidelity’s FBTC experienced a net outflow of $57.8 million on May 6, indicating a mixed sentiment among institutional investors.
Technical analysts are closely monitoring key resistance levels at $100,000 and $107,000, while support levels are identified at $92,000 and $85,000. The Relative Strength Index (RSI) stands at 42, suggesting that Bitcoin is approaching oversold territory, which could signal a potential rebound.
In summary, while Bitcoin’s price remains relatively stable, market participants are advised to watch for movements around these critical support and resistance levels, as well as institutional investment flows, to gauge future price directions.
