- Bitcoin remains in a confirmed long-term bullish trend with price consistently rising since March 2024.
- A daily close above $104.8K is required to confirm a short-term bullish momentum shift.
- Despite a 29.29% drop in trading volume, price action continues upward, indicating strong market trend.
Bitcoin, the first and leading digital asset by market cap, has been in a bullish zone despite slight dips. During today’s Asian trading session, the cryptocurrency opened its market with an exchanging price value of $104, 566, which has seen a continued uptick to current market values. This market action has prompted market analysts to weigh in on the next move, as many suggest that Bitcoin should achieve a close of $104,800 for new short-term momentum.
Bitcoin Current Market Movement Revealed
Tracking the ongoing trend as of writing, CoinMarketCap data notes that Bitcoin traded at $105,210.94, observing a 1.40% uptick over the last 24 hours. The market capitalization reached $2.09 trillion, also increasing by 1.40%. Trading volume over the same period dropped sharply by 29.29%, settling at $44.64 billion.
Additionally, the volume-to-market cap ratio stood at 2.13%, displaying lower trading activity relative to total market value. BTC’s price chart showed volatility with a low of $ 103,638 and a high of $105.380 during the same period. The market movement reveals that the price reported a rise during evening hours before stabilizing slightly lower.
Early morning trading saw changes around $104.5K, followed by a bounce near mid-day. The price reached another peak before dropping back slightly. Activity gained upward momentum pushing the price past $105K once again. Regardless of reduced trading volume, price sustained steady upward growth all over the period.
Bitcoin Maintains Bullish Trend: What Next if $104.8K Holds?
Bitcoin’s long-term bullish momentum continues as the market eyes a critical short-term threshold of $104.8K. According to an observation by Axel Adler, BTC has recorded a continued uptick as maintaining it levels below $110K. Despite strong performance, Bitcoin’s short-term momentum has fluctuated as the purple bars on the TrendPulse chart marked bullish phases.
From late August 2024, it is notable that aggressive mode became dominant. BTC climbed above $85K by October and maintained upward direction to the recently attained new ATH. Temporary corrections around March 2025 disrupted the short-term trend. However, strength returned in April 2025 with price nearing $105K.
Prices have risen and are now around the $104.8K point. If the price increases to the next levels and then remains there, it could create a short-term bullish trend. The TrendPulse indicator is still at 1.0 which signals strong positive sentiment. Trading activity around medium targets has decreased and prices are still on the rise, making the bullish trend active.
