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As of 9:39 AM, January 6, 2025 (GMT-5), Bitcoin (BTC) is priced at $99,027.70, showing a +1.61% increase from its previous close of $98,336.04. The cryptocurrency has experienced a significant surge in recent weeks, and its current market cap stands at an impressive $1.961 trillion, with a circulating supply of approximately 19.81 million BTC.
Bitcoin has been trading within a day’s range of $98,009.37 – $99,765.71. Over the last 24 hours, $32.06 billion worth of Bitcoin has been traded across active markets.
Multiple key factors have driven Bitcoin’s ongoing rally:
- Institutional investors have shown increasing interest in Bitcoin, viewing it as a secure store of value and a hedge against inflation.
- Growing adoption by retail investors, paired with Bitcoin’s limited supply, has created the ideal conditions for price appreciation.
- The cryptocurrency’s bullish momentum is supported by strong technical indicators. Momentum oscillators, including the Relative Strength Index (RSI), are showing favorable positions, suggesting that Bitcoin’s upward trend is likely to continue.
- Bitcoin has consistently stayed above critical moving averages, reinforcing the positive sentiment in the market.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.