- Bitcoin price stayed above $103,400, reaching $103,495.57 with a 1.57% gain on May 14.
- Lower market volatility and cooling inflation could push bitcoin higher, experts say.
- Big investors like BlackRock and Abu Dhabi’s fund are driving bitcoin growth.
On May 14, the bitcoin price held steady above $103,400, showing a small but solid increase. The world’s top cryptocurrency went up 1.57% to $103,495.57 by 9:30 AM, according to CoinMarketCap.
Its total market value hit $2.05 trillion, and trading volume grew 20.52% to $50.16 billion in the last 24 hours. Bitcoin makes up 61.2% of the entire crypto market, proving it’s still the leader.
Bitcoin Price and Other Cryptos
The bitcoin price is staying near $103,700 after touching a resistance point at $105,000, said Edul Patel, Co founder and CEO of Mudrex.
He mentioned that April’s CPI data at 2.3% helped support this rise. Presto Research noted that the bitcoin price is dominating like it did before the 2021 bull market, and money is starting to move to other cryptos.
For example, Ethereum jumped 8.55% to $2,647.38, Solana rose 6.97% to $180.92, and Tether stayed almost flat at $0.9997. CoinShares reported that crypto funds saw $882 million in new investments, with $867 million for bitcoin, $1.5 million for Ethereum, and $1.4 million for XRP, but Solana lost $3.4 million.
Can Lower Volatility Push Bitcoin Up?
Experts think a calmer market could lift the bitcoin price higher. HTX Research said big players like BlackRock’s Bitcoin ETF and Abu Dhabi’s wealth fund are fueling growth.
Patel added that inflation has been cooling for three months, raising chances of Federal Reserve rate cuts in 2025, which could help assets like bitcoin.
The bitcoin price has a 10 day volatility of 43.86, lower than the S&P 500 at 47.29 and Nasdaq 100 at 51.26, meaning bitcoin is acting more stable.
But Alex Kuptsikevich from FxPro cautioned that a stronger dollar and people selling to lock in profits near recent highs might slow the bitcoin price, as the crypto market dipped slightly even though stocks are up.
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