Bitcoin continues to demonstrate medium-term strength by maintaining its position above the $113,900 support level, currently trading between $113,900 and $118,000 despite recent price volatility. Technical indicators signal recovering bullish momentum, with the Relative Strength Index (RSI) at 56.75 and Moving Average Convergence Divergence (MACD) showing a positive crossover.
Market sentiment remains overwhelmingly optimistic, with 82% of participants expressing bullish outlooks despite Bitcoin experiencing a 2% price decline over the past 24 hours. This confidence coincides with notable institutional developments in cryptocurrency accumulation.
Coinbase has emerged as the 10th largest corporate Bitcoin holder with 11,776 BTC, surpassing Tesla’s holdings. This milestone underscores growing institutional trust in digital assets and reflects increased corporate participation in the cryptocurrency market.
Daily trading volume surged 27.21% to $89.2 billion, indicating heightened market activity amid ongoing price fluctuations. The combination of technical stability, strong investor sentiment, and institutional adoption suggests continued resilience in Bitcoin’s market position.