The market observes a new Bitcoin price prediction today after recently reaching $89,160. Analyst Arslan Butt reported a 1.5% daily increase for the leading coin. Likewise, the asset maintains its absolute dominance over other current cryptocurrencies.
Currently, the total market capitalization is around 1.78 trillion dollars. Additionally, daily trading volume recently reached 24.3 billion dollars. Bitcoin leads the sector with great strength against alternative digital assets. Thus, the circulating supply is now approaching twenty million units.
However, the general sentiment of investors remains trapped in fear. The fear and greed index remains stuck at 27 points today. Caution prevails among traders given the volatility of the digital ecosystem. Therefore, many prefer to protect their capital in higher-ranking assets.
On the other hand, the dominance of the main currency affects other projects. Ethereum and Solana show difficulties in keeping up with the current recovery. The market is going through a quite significant technical consolidation phase now. Consequently, all eyes are on the nearest resistance levels.
Consolidation of technical levels opens doors to a new bullish cycle
Regarding technical analysis, the price exceeded the key pivot zone. The 50 and 100-period exponential moving averages provide solid support. Indicators suggest a possible upside breakout in the short term. In this way, the RSI sits comfortably near 60 points.
If the trend continues, the immediate target is 90,500 dollars. A confirmed breakout would pave the way to the 92,650 dollar mark. The asset seeks to strongly retake the 94,600 dollar maximum. Nevertheless, losing 88,000 dollars could trigger a pullback toward lower levels.
Can institutional interest overcome the persistent uncertainty of retail investors?
In this scenario of expectations, new projects like PEPENODE attract much attention. This meme coin proposal has raised over 2.39 million dollars. Its virtual mining system attracts thousands of new users today. Also, the presale is in its final phase before the launch.
Finally, the outlook suggests that price resilience will set the course. The coming days will be decisive to validate the buyers’ strength. Support at 88,000 dollars is vital to maintain the structure. Also, the market awaits a clear signal from large global financial institutions.
