Technical and Price Analysis
Current price: The price of Bitcoin has experienced a downward correction in recent hours, trading around $113,000 USD. It has fallen by 2.57% in the last 24 hours and 1.98% in the past week.
Volatility: The Bitcoin market shows high volatility, with significant price movements. There is a "strong sell" signal on moving averages and technical indicators in the short term (1 minute to 1 day), suggesting selling pressure.
Key levels:
Support: Analysts point to a support level at $113,500 USD. If the price falls below this level, it could be a bearish signal.
Resistance: Resistance is around $123,000 USD.
Market sentiment: The overall sentiment on social media and trading forums seems to be positive in the long term, but with a clear downward trend in the short term. The RSI (relative strength index) is at an "oversold" level in some timeframes, which could indicate a potential bullish reaction.
Fundamental Analysis and Relevant News
Institutional capital inflow: Institutional demand remains a key factor for the price of Bitcoin. It has recently been announced that Metaplanet Inc. has acquired an additional 775 BTC for $93 million, raising its holdings to a total of 18,888 coins.
Regulation and monetary policy: The policy of the U.S. Federal Reserve (Fed) and decisions by central banks continue to influence the cryptocurrency market. Regulatory uncertainty is also an important factor, although there are signs of possible greater clarity and adoption of blockchain technology in the financial system.
New listings and financial products: The approval of Bitcoin ETFs has been a growth driver this year, attracting new investors. The integration of digital assets into traditional financial systems is a trend that could further boost the price in the long term.
