$BTC
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Bitcoin ($BTC) Market Update – May 7, 2025
Bitcoin is currently trading around $97,000, reflecting a 0.03% increase today.
📊 Key Technical Levels
Immediate Resistance: $95,000 – $97,750
BTC has faced selling pressure near this zone.
Major Resistance: $100,000 – $107,000
A psychological barrier and previous high.
Support Levels:
$92,000 (Bollinger Band midline)
$88,800 (trendline support)
$85,000 (historical support)
🔍 Technical Indicators
MACD: Recently turned bearish, indicating potential short-term weakness.
RSI: Approaching overbought territory at 68, suggesting possible consolidation.
Coinbase Premium Gap: Dropped to -5.07, signaling U.S. investor caution.
📈 On-Chain Metrics
88% of BTC supply is in profit, indicating strong holder confidence.
RPLR remains above 1.0, reflecting healthy network activity.
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