As of May 6, 2025, Bitcoin (BTC) is trading at approximately $95,086 USD, reflecting a slight increase of 0.47% over the past 24 hours.
Market Overview
Bitcoin's price has been relatively stable, hovering around the $94,000 to $95,000 range. This stability comes amid broader economic uncertainties, including trade tensions and anticipation of the Federal Reserve's upcoming policy decisions.
Technical indicators suggest that Bitcoin is at a critical decision point, trading between major supply clusters. Resistance is noted near $94,750, while key support levels are around $93,364.
On-Chain Activity
Recent on-chain data indicates movement from dormant Bitcoin wallets, which could signal potential selling pressure if these tokens are transferred to exchanges. Conversely, institutional interest remains strong, with companies like Semler Scientific and Strategy (formerly MicroStrategy) adding significant amounts of BTC to their holdings, totaling $196.5 million on Monday.
Market Sentiment
The crypto market is showing mixed signals. While Bitcoin holds firm, other major cryptocurrencies like Ethereum (ETH) have experienced slight dips. Investors are closely monitoring macroeconomic factors and upcoming regulatory decisions that could impact market dynamics.
