#ReboundRally
Bitcoin Price Update
The current Bitcoin price is $98,291, which is $4,075 (4.33%) higher than the previous close.
Technical Analysis
*Support and Resistance Levels*
Bitcoin's price is currently between the $92,000 support and $98,000 resistance levels. If the price breaks through these levels, it may signal a new direction.
*RSI (Relative Strength Index)*
The RSI is currently in the overbought zone (above 70), indicating a potential correction or consolidation in the price.
*MACD (Moving Average Convergence Divergence)*
The MACD line is above the signal line, but the declining histogram bars indicate a decrease in momentum.
*Volume*
The volume is lower at price tops and higher at price bottoms, indicating weak price movements.
Fundamental News
*MicroStrategy's Bitcoin Purchase*
MicroStrategy purchased 149,880 Bitcoins in December 2024, increasing their total holdings to 423,650 Bitcoins, worth $42.43 billion.
*Bitcoin's Limited Supply*
Bitcoin's price has surpassed $100,000, partly due to its limited supply (maximum 21 million Bitcoins). So far, 19.8 million Bitcoins have been mined, and it will take over a century to mine the remaining ones.
*Quantum Computing Threat*
Quantum computing technology may pose a threat to Bitcoin's security in the future, as it can break advanced encryption. Experts believe this threat may materialize in the next 10 years or more.