#cryptotothemoon
As of May 29, 2025, Bitcoin (BTC) is trading at approximately $106,345, reflecting a 1.21% decline over the past 24 hours. The market capitalization stands at $2.12 trillion, with a 24-hour trading volume of $51.36 billion .
BTC is consolidating within a tight range between $106,000 and $108,000, following its recent all-time high of $111,891.30 achieved on May 22 . Key support levels are identified at $106,550 and $106,800; a breach below these could lead to further declines towards $102,700 or lower . Resistance is observed near the $110,000 mark, a level BTC has struggled to surpass since May 23 .
Technical indicators present mixed signals: the Relative Strength Index (RSI) is showing negative divergence, suggesting potential downward pressure, while the Moving Average Convergence Divergence (MACD) remains neutral . Despite short-term uncertainties, Bitcoin maintains a bullish macro trend, supported by its position above the daily TBO Cloud .
Market sentiment is cautious amid geopolitical tensions and U.S. tariff concerns, yet institutional interest persists, evidenced by significant inflows into BTC-based exchange-traded funds (ETFs) . Overall, Bitcoin's current consolidation phase suggests a critical juncture, with potential for either a breakout above resistance or a breakdown below support, depending on forthcoming market developments.
