Rita Dfouni
- Bitcoin trades at $114,419 with a $2.27 trillion market cap.
- 82% of community sentiment remains bullish.
- Traders eye a breakout beyond $115,000 for continuation.
Bitcoin currently trades around $114,419.39, posting a modest intraday gain of 0.01% as traders remain cautiously optimistic. The digital asset continues to demonstrate resilience following weeks of steady consolidation near the $114K mark. At the time of writing, Bitcoin’s market capitalization stands at $2.27 trillion, with a 24-hour trading volume of $54.16 billion, reflecting a notable 15% increase in activity.
The circulating supply is reported at 19.9 million BTC, approaching the maximum supply limit of 21 million. Today’s volume-to-market-cap ratio is at 2.42%, indicating moderate liquidity and trading intensity. The broader market remains on alert for any significant movement as BTC flirted with an intraday high of $114.7K before easing slightly back to its current level.
Bullish sentiment drives resistance test
Market watchers continue to highlight the influence of institutional participation and macroeconomic developments. Among the recent catalysts are rising ETF inflows, positive sentiment from major crypto funds, and anticipation surrounding policy changes in global financial institutions. In particular, speculation around the appointment of a new U.S. Federal Reserve governor has been cited as one of the subtle drivers of investor interest.
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Community sentiment on CoinMarketCap currently shows 82% of users remain bullish on BTC, supporting the view that retail and institutional confidence in the digital asset remains strong. Traders are now closely watching the $115K resistance level, as a confirmed breakout could pave the way toward $120K, a key psychological milestone. On the downside, analysts suggest that a pullback below $112K may lead to short-term corrections, although fundamentals remain supportive of long-term growth.
The TradingView chart above captures Bitcoin’s price action over the past month on the 1D timeframe. Price is consolidating just above the support line at $114,388, with visible resistance at $115,689. A confirmed breakout above this level could open the door toward the psychological target of $120,000.
Volume analysis shows heightened activity during key resistance tests, while the Bollinger Bands are narrowing typically a precursor to volatility. RSI and SMA indicators remain neutral to slightly bullish, reinforcing the cautious optimism currently seen in market sentiment.
The crypto market overall has seen a resurgence in volume and engagement as Bitcoin maintains its position as the leading digital store of value. With 100% profile score and near-complete supply already in circulation, the scarcity narrative continues to fuel demand.
