Here's the latest update on Bitcoin ($BTC
):
Current Price
Bitcoin's current price is around $83,780.61, with a daily high of $93,721.37 and a daily low of $82,464.84.
Market Trends
Bitcoin's price surged 10% after President Trump's Crypto Strategic Reserve announcement, with some analysts predicting a potential breakout past $100,000. However, others warn that the rally may be temporary due to regulatory hurdles ¹.
Key Levels
- *Resistance:* $90,000 - $100,000
- *Support:* $80,000 - $83,000
Technical Analysis
- Bitcoin is currently consolidating and testing key support levels, with a bullish rebound expected if it holds above $114,850 or $111,900.
- A break below these levels could weaken the bullish outlook and lead to deeper downside risk.
- Some analysts expect Bitcoin to continue its uptrend, with potential targets at $122,900, $124,420, and $126,250 ² ³.
Fundamental Analysis
- Fidelity and BlackRock have continued accumulating Bitcoin-related ETF shares, supporting the uptrend.
- Weak US jobs data has fueled expectations of a Fed rate cut, drawing capital back into crypto.
- Ethereum's upcoming hard fork upgrade is boosting overall market sentiment ⁴.