- Bitcoin (BTC) is holding above $82K but faces resistance near $85K.
- The market cap stands at $1.63T, with trading volume down 48.64%.
Bitcoin (BTC) is trading at $82,667, down 2.11% in the past 24 hours. The market cap has slipped to $1.63 trillion, reflecting a 2.06% decline. Trading volume has dropped 48.64% to $13.6 billion, bringing the market cap ratio to 0.8292%.
Brazil is making strides in digital finance with a proposal to allow employees to receive salaries in Bitcoin. Meanwhile, Goldman Sachs and BlackRock have ramped up their BTC exposure. These investments highlight Bitcoin’s growing presence in traditional finance, encouraging institutional investors to reconsider crypto allocations despite macroeconomic uncertainties.
Will BTC Regain Its Momentum?
Bitcoin faces immediate resistance at $83,151. If bulls push past this level, BTC could rally toward $85,000, with a potential test of $86,500 if momentum strengthens. On the downside, the nearest support is $82,400. A break below this level could send Bitcoin toward $80,000, with a deeper correction possible near $78,500.
The 14-day RSI stands at 53.90, indicating neutral momentum. The RSI moving average is 45.34, which is slightly below the current RSI, suggesting a mild upward trend. If the RSI crosses above 60, bullish momentum could strengthen, pushing BTC toward higher resistance levels. However, if it drops below 45, selling pressure may increase.
The Chaikin Money Flow (CMF) is at 0.01, signaling weak capital inflows. If CMF rises above 0.05, it would confirm stronger demand from investors. A dip below -0.05 could indicate growing outflows, increasing bearish pressure.
The 50-day moving average (MA) remains below the 200-day MA, forming a bearish crossover. This suggests Bitcoin could struggle to maintain upward momentum unless it breaks key resistance levels. If Bitcoin holds above $82,400, it may attempt a breakout toward $85K–$90K in the coming weeks.
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