Bitcoin (BTC) is currently trading at approximately $104,605, reflecting a 2.20% decrease over the past 24 hours. The price has experienced fluctuations, with an intraday high of $106,973 and a low of $104,605.
This downturn is attributed to renewed global geopolitical tensions and macroeconomic uncertainty, which have led to a broader pullback in the crypto market.
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BTC Next Target
- Current Price: $104,605
- 24h Price Change: -2.20%
- 24h Range: $104,605 – $106,973
- Market Cap: ~$2.09 trillion
- 24h Trading Volume: ~$42.12 billion
Price had a bearish breakout from Rising Wedge, and below $108K key level (prior ATH), which could signal further weakness near-term, with downside potential to $100K support. That would be a buying opportunity.
Overall, BTC remains in a solid uptrend (above 200 SMA) and could attack $120K next.Â
Key Technical Indicators
- Relative Strength Index (RSI): Below 50 (Neutral to Bearish)
- MACD: Bearish crossover observed
- Support Levels: $104,000, $102,500
- Resistance Levels: $107,500, $110,000
- Trend Overview: Sideways with potential for further decline if support levels break
Latest Bitcoin News & Developments
- Market Reaction to Global Events: Bitcoin’s dip below $106,000 is being driven by rising geopolitical tensions and economic uncertainty in major economies.
- Stable Derivatives Market: Funding rates remain stable while open interest is rising, suggesting cautious optimism among leveraged traders.
- Investor Sentiment Mixed: Short-term sentiment is turning cautious as traders await clearer macroeconomic signals.
👉 Short-Term Forecast: Neutral to Bearish
📉 Risk Level: Medium to High due to external macroeconomic factors
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