$BTC As of May 13, 2025, Bitcoin (BTC) is trading at approximately $103,454, reflecting a slight decline of about 0.93% over the past 24 hours.

Market Overview:

24-Hour Range: Bitcoin's price has fluctuated between $101,065 and $104,546 in the past day.

Market Capitalization:

The global cryptocurrency market cap stands at approximately $3.31 trillion, marking a 1.64% decrease over the last day.

Recent Developments:

Profit-Taking and Inflation Concerns:

The recent dip below $102,400 is attributed to traders engaging in profit-taking ahead of the upcoming U.S. Consumer Price Index (CPI) data release, reflecting broader economic concerns.

Short Squeeze Activity:

A recent short squeeze propelled Bitcoin past $100,000, with funding rates growing, indicating increased leverage in the market.

Technical Outlook:

Resistance Levels: Bitcoin is currently testing a significant resistance level. A breakout above this could signal strong bullish momentum, potentially leading to new all-time highs.

Futures Market:

March 2026 Deribit Bitcoin Futures are trading at a premium of $109,099, down 1.46%, with an annualized basis rate of 7.67%, indicating robust futures demand.