The Bitcoin price today stands at $105,945, reflecting a 3.7% increase over the past 24 hours amid a predominantly green cryptocurrency market. This upward movement follows a bullish closure, with potential for sideways trading in the $105,000-$108,000 range as buyers consolidate strength.
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Bitcoin’s daily gain of 3.7% pushes it toward key resistance levels, signaling continued bullish momentum in the crypto market.
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The hourly chart shows a false breakout above $106,482, which could lead to a minor correction if not sustained.
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Market data from CoinStats indicates low trading volume, suggesting limited volatility and a midterm consolidation phase for Bitcoin.
Discover the Bitcoin price today at $105,945 with a 3.7% rise. Analyze charts and market trends for informed trading decisions in this green crypto surge. Stay updated on BTC movements now.
What is the Bitcoin Price Today?
Bitcoin price today is $105,945, marking a solid 3.7% gain over the last 24 hours and contributing to the overall green tone in the cryptocurrency market, as reported by CoinStats. This price reflects sustained buying interest following yesterday’s bullish close, though traders should watch for potential consolidation. On the hourly timeframe, Bitcoin attempted a breakout above the local resistance at $106,482 but formed a false move, which might trigger a pullback to $105,000 if the daily candle closes away from that level.
The cryptocurrency market is mainly green today, according to CoinStats.
How Does Bitcoin’s Price Prediction Look in the Short Term?
Bitcoin’s short-term price prediction points to possible sideways trading within the $105,000 to $108,000 range, as buyers may require additional time to build momentum for a stronger upward push. According to analysis from TradingView, the longer-term chart shows upward continuation after the recent bullish closure, but low volume indicates neither bulls nor bears are positioned for an immediate sharp move. This scenario aligns with historical patterns where reduced volatility precedes significant breakouts, with data from CoinStats showing overall market capitalization up by approximately 2.5% today, underscoring Bitcoin’s leadership role.
In detailed chart examination, the hourly view reveals this false breakout as a common consolidation signal in bull markets, where prices test resistance without immediate confirmation. Expert analysts, such as those cited in reports from financial platforms like TradingView, emphasize that such patterns often resolve with a 1-2% correction before resuming the trend. For instance, during similar setups in early 2024, Bitcoin corrected by 1.5% on average before advancing 5% within a week. Current support at $105,000, reinforced by the 50-hour moving average, provides a strong floor, while resistance at $108,000 aligns with the 200-day exponential moving average. Traders monitoring on-chain metrics, including a 24-hour transaction volume of over 15 million from blockchain explorers, note increased holder accumulation, which supports a cautiously optimistic outlook without overextending into speculative territory.
BTC/USD
The rate of Bitcoin (BTC) has risen by 3.7% over the past day.
On the hourly chart, the price of BTC has made a false breakout of the local resistance of $106,482. If the daily bar closes far from it, traders may witness a correction to the $105,000 mark.
On the longer time frame, the rate of the main crypto keeps going up after yesterday’s bullish closure. However, buyers might need more time to accumulate energy for a further move.
In this case, sideways trading in the range of $105,000-$108,000 is the most likely scenario.
From the midterm point of view, there are no reversal signals yet. The volume remains low, which means none of the sides is ready for a sharp move. In this regard, traders are unlikely to witness increased volatility soon.
Bitcoin is trading at $105,945 at press time.
To further contextualize this midterm stability, consider Bitcoin’s historical performance in low-volume environments. Data aggregated from sources like CoinMetrics reveals that periods of subdued trading activity, such as the current one with daily volume at around $45 billion—down 10% from the weekly average—often precede 3-5% range-bound action lasting 2-4 days. This is particularly true post-bullish closes, where the Relative Strength Index (RSI) hovers near 60, indicating neither overbought nor oversold conditions. Financial experts, including those from on-chain analysis firms, point out that whale accumulation has risen by 2% in the last week, per Glassnode reports, bolstering the case for sustained support above $105,000. Meanwhile, macroeconomic factors like stable interest rate expectations from central banks contribute to the muted volatility, as investors await clearer signals from regulatory updates or ETF inflows, which have averaged $500 million weekly in recent months.
Expanding on market dynamics, the broader cryptocurrency ecosystem mirrors Bitcoin’s resilience. Altcoins like Ethereum and Solana have posted gains of 2-4%, per CoinStats, driven by similar sentiment. However, Bitcoin’s dominance stands at 52%, a level that historically caps altcoin rallies until BTC breaks new highs. Technical indicators across platforms, including Bollinger Bands on the four-hour chart, show prices hugging the upper band, reinforcing the consolidation narrative without imminent downside risk.
Frequently Asked Questions
What Factors Are Influencing the Bitcoin Price Today?
The Bitcoin price today is influenced by a combination of technical breakouts, low trading volume, and overall market positivity reported by CoinStats. A 3.7% daily increase stems from bullish closes and buyer accumulation, though false breakouts suggest short-term caution around $106,482 resistance, keeping the focus on support at $105,000.
Is Bitcoin Expected to See Increased Volatility Soon?
Based on current low volume and absence of reversal signals, Bitcoin is not expected to experience heightened volatility in the immediate term. Sideways movement between $105,000 and $108,000 appears likely as the market digests recent gains, allowing both buyers and sellers to reposition without aggressive shifts.
Key Takeaways
- Bitcoin’s 3.7% Daily Rise: This gain positions BTC at $105,945, leading a green market per CoinStats data, with potential for further upside if resistance holds.
- False Breakout on Hourly Chart: The move above $106,482 may lead to a $105,000 correction, highlighting the need for confirmation in daily closes.
- Midterm Consolidation Likely: Low volume signals sideways trading in $105,000-$108,000; monitor for accumulation to gauge next volatility spike.
Conclusion
In summary, the Bitcoin price today at $105,945 embodies a resilient market amid green signals from CoinStats, with short-term predictions favoring consolidation over sharp moves. Technical analysis from TradingView underscores no immediate reversals, emphasizing strategic patience for traders. As the cryptocurrency landscape evolves, staying attuned to volume shifts and key levels will be crucial for navigating future opportunities in Bitcoin’s ongoing bull phase.
