The $104,000 mark was briefly regained by Bitcoin (BTC) today, with a moderate intraday increase of 1.00% being recorded. At the time of reporting, BTC was being traded at $104,200.09, bringing its market capitalization to $2.06 trillion. This represented a 0.73% rise, accompanied by a significant jump in trading volume, which has reached $47.02 billion — an increase of nearly 20%.
Bitcoin holds a fully diluted valuation of $2.18 trillion, as its circulating supply climbs to 19.86 million coins—approaching the maximum limit of 21 million. The volume-to-market cap ratio stands at 2.32%, indicating a notable increase in trading activity relative to its overall valuation.
Will BTC Continue Its Upward Rally?
After a brief consolidation phase, Bitcoin regained bullish momentum and broke decisively above both the 9-period and 21-period moving averages, currently positioned at $103,832.21 and $102,847.27, respectively.
The Relative Strength Index (RSI) currently reads 63.84, positioning it just below the critical 70 level. Its smoothed average aligns exactly at 70.00, indicating that the recent rally may have slowed just before entering overbought territory. If the RSI surpasses this threshold, it could reignite buying interest. Conversely, a drop below 60 may lead to heightened selling pressure.
Support appears near the $102,000 mark, where the 21-period moving average intersects with a previous consolidation zone. A drop below this level could push BTC toward the psychological threshold of $100,000 or lower. Meanwhile, resistance around $105,000 continues to cap upward momentum. If BTC breaks through this barrier, it could aim for $107,500, with the potential to reach $110,000.
The Chaikin Money Flow (CMF) indicates a positive trend, suggesting sustained capital inflows into Bitcoin. While the metric is not significantly high, its current level reflects persistent bullish sentiment toward the asset.
A key technical indication is provided by the moving average crossover. The short-term moving average has crossed above the long-term average, signaling growing buyer dominance. Historically, this setup has aligned with moderate bullish rallies.
 today, with a moderate intraday increase of 1.00% being recorded. At the time of reporting, BTC was being traded at $104,200.09, bringing its market capitalization to $2.06 trillion.){kind=link}