Bitcoin Price Hits New Highs Amid Institutional Investor Surge
Bitcoin's price has surged past $81,400, sparking both excitement and caution among traders. The rally comes as institutional investors return to the market, with renewed ETF inflows and Strategy resuming Bitcoin purchases after a two-month pause.
The daily chart shows a bullish trend, with the price above its EMA20, EMA50, and EMA200 moving averages. However, the EMA50 remains below the EMA200, preventing a full golden-cross confirmation.
The Relative Strength Index (RSI) on the daily chart sits at 73.21, indicating overbought conditions, while the hourly RSI is even higher at 80.47, flashing a warning sign of mean reversion.
The 15-minute chart reveals fading momentum with a bearish MACD crossover, despite the bullish structure remaining intact.