Bitcoin's current price is $108,750.01, with a 0.45% decrease from its open price of $109,238.13. Given the market's volatility, your cautious approach is justified. Here are some key points to consider:
- *Market Sentiment*: According to CoinCodex, the current sentiment is bullish, with a Fear & Greed Index of 73, indicating greed. Technical indicators also suggest a bullish trend, with 25 indicators signaling bullish signals and 6 signaling bearish signals.
- *Price Predictions*: Predictions for the next few days vary, but some analysts expect Bitcoin to reach $110,595 on July 5, 2025, and potentially $120,441 by August 3, 2025, representing a 9.99% increase.
- *Institutional Interest*: Bitwise has reaffirmed its $200,000 forecast for Bitcoin, citing institutional adoption, supply constraints, and regulatory progress as key drivers.
- *Technical Analysis*: Bitcoin is trading within the Bollinger Band range, with high volatility indicated by the 8.45% band width. The RSI stands at 60.21, suggesting positive momentum.
Given the uncertainty, using small position sizes and buying in spot, as you've planned, seems like a prudent strategy. Be cautious of potential fake movements and keep an eye on news that could impact market direction