$BTC (BTC)

Bitcoin is a crypto in the CRYPTO market.

The price is 104704.0 USD currently with a change of -1100.00 USD (-0.01%) from the previous close.

The intraday high is 105804.0 USD and the intraday low is 104505.0 USD.

As of June 5, 2025, Bitcoin (BTC) is trading at approximately $104,704, marking a slight decline of about 1% over the past 24 hours. The day's trading has seen BTC fluctuate between a high of $105,804 and a low of $104,505.

Market Overview

Recent market movements indicate a period of consolidation for Bitcoin. After reaching an all-time high of over $111,000 in May, BTC has experienced a pullback, with current prices hovering just above the $100,000 mark. This retracement is attributed to profit-taking by large holders and a general cooling of bullish momentum. 

Technical Indicators

50-Day Simple Moving Average (SMA): Bitcoin's 50-day SMA has reached a record high, suggesting a strong underlying trend. However, the narrowing gap between the spot price and the SMA indicates potential for a price correction.

Support and Resistance Levels: Analysts identify key support around $100,295, with resistance near $107,245. A break below the support could signal further downside, while surpassing the resistance may reignite bullish momentum.

Future Outlook

Despite short-term volatility, some experts remain optimistic about Bitcoin's trajectory. Factors such as institutional adoption and macroeconomic conditions could propel BTC to new highs. Projections suggest potential targets of $120,000 to $125,000 in the coming months, with year-end estimates ranging between $150,000 and $200,000.