After a sharp collapse during the weekend from about 97 thousand dollars to 94.1 thousand dollars, the Bitcoin (BTC) price is trading today at 94,589.0 dollars at 8 am. During the past 24 hours, BTC has increased by 1.16 % with a daily increase of $ 95,742.0 on May 5.
This price optimism is more high by the ETF Spot flow of $ 4.87 in the past two weeks. In addition, US Treasury Secretary, Scott Bisant The effect of definitions on gold and how BTC is increasingly “valuable store”.
Only in: 🇺🇸 US Treasury Secretary Scott Beesen said: “Bitcoin has become a valuable store.” pic.twitter.com/vlpff3s6ot
Bitcoin (PitcoinMagazine) Magazine April 4, 2025
Bitcoin price today: Why is BTC to be raised?
During the weekend, Bitcoin (BTC) decreased by approximately 3 % from 97 thousand dollars to 94.1 thousand dollars. This refusal is due to BTC’s entry into the key supply area. Despite this latter setback, the Bitcoin price today increased by 1.16 % and is circulating at 94,589.0 dollars.
*Bitcoin price has been updated from 8 am.
Despite Trump’s commercial war and macroeconomic pressure building, BTC is trading $ 94,589.0 after a bounce of 1.38 % in the early Asian session. Optimism can be attributed to the huge bitcoin -speaking ETF flows that have crossed the mark of $ 3 billion in the past two weeks.
What is the following for Betcoin (BTC)? Constant gathering
Bitcoin’s market value
Bitcoin market cover hovering about $ 1,878.5 billion with trading volume of $ 19.7 billion. With such a strong market and trading volume, BTC expectations remain optimistic as the price and basics above have noticed.
Short -term correction is likely for BTC price
A closer look at the daily chart shows a rejection of the $ 97.1 thousand supply zone to 98.1 thousand dollars, which leads to a correction of 4.50 % at the BTC price. However, not everything is lost as Bitcoin (BTC) hovers in the largest value area, and extends from 93 thousand dollars to 102.5 thousand dollars. This area is where 70 % of the size has been traded where BTC was unified between November 2024 and February 2025. Thus, a BTC price correction leads to a minimum test for this region at a price of 93 thousand dollars will be a good place to purchase declines.
Interested investors need to search for a reaction of about 93 thousand dollars, and it is not recommended for blind purchase. The formation of stable support here due to the demand for bulls can pay the price of Bitcoin by 10 % to 102.5 thousand dollars.
On the other hand, the collapse of 93 thousand dollars can return to the next value area, which extends from 81 thousand dollars to 88.4 thousand dollars. This region was formed, where the BTC price ranged between late February and mid -April 2025.
Low composition in this area can be the best place to assemble declines. But will bitcoin be disrupted or gathered from here?
The main events that can affect the price of bitcoin
This week is full of macroeconomic events. On May 7, the FOMC meeting will provide the interest rate decision, and this will be followed by the speech of the Federal Reserve Chairman, Jerome Powell. Followed by this, investors will closely monitor the unemployed demands in the United States on May 8.
All these events and possible comments from Trump on the introductory scene, as well as the wars of Russia, Ukraine and India, can affect the price of BTC and welcomes the current expectations. Consequently, investors are advised to pay attention to these economic and geopolitical movements.
