Bitcoin is presently trading around the $114,100 level. The market for BTC has experienced liquidations totaling $46.84 million over the past 24 hours.
With a rise of 2.14%, the overall market capitalization remains at approximately $3.96 trillion. A bullish trend has enveloped major cryptocurrencies, pushing them into positive territory. Both bulls and bears are actively participating in this volatile environment without establishing a clear dominance zone. Recently, Bitcoin (BTC), as the leading cryptocurrency, has shown significant fluctuations.
After overcoming several key resistance points, Bitcoin’s momentum shifted positively with a reported gain of 2.38% within the last day. It began trading at a low of $111,396 and gradually surged to reach a peak of $114,435 following favorable market conditions.
The Fear and Greed Index for Bitcoin currently stands at 54, indicating neutral sentiment among investors. At this moment, Bitcoin is priced at approximately $114,143 with its daily trading volume having increased by more than 22.84%, amounting to about $55.73 billion according to Coinglass data; liquidations in the BTC market have reached $46.84 million over the past day.
Will Bulls Drive Bitcoin Higher?
An analysis using TradingView’s technical charts shows that the Moving Average Convergence Divergence (MACD) line is positioned above its signal line—a sign suggesting bullish momentum that could lead to an upward trend for BTC.
BTC chart (Source: TradingView)
The money flow also deserves attention; with Chaikin Money Flow (CMF) indicator reading at 0.19 for BTC indicates strong buying pressure within the marketplace—pointing towards accumulation trends as it approaches +1 signifies increasing bullish strength.
The four-hour price chart suggests that Bitcoin may rise further and encounter critical resistance around $114,153; should conditions remain highly favorable for bulls it might pave way for a golden cross formation which could help reclaim recent highs near $114,163.
If there happens to be any reversal in trends however; prices may drop back down testing support levels around $114,133 where additional downward corrections could potentially lead toward forming a death cross—possibly driving prices lower towards previous lows near$114123 mark
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Additonally,BTC’s daily Relative Strength Index(RSI)currently rests at63 .34 ,indicating it resides firmly within bullish territory while still possessing potential room before reaching overbought thresholds .Meanwhile ,the Bull Bear Power(BBP )reading sitsat2426 .27 suggesting current dominance lies with bulls who continue exerting upward pressure on price movements through sustained positive values.