Bitcoin price today: Sustains above $103k, can lower market volatity induce further up move? Here's what experts say…
Bitcoin price today: The world's biggest cryptocurrency was near $103,496 at time of writing on May 14, steady above the $103,000 level for a second straight day, data on CoinMarketCap showed.
Bitcoin was trading at $103,495.57 at 9.30 am on May 14, up 1.57 per cent from the previous day, with market capitalisation of $2.05 trillion, and trading volume of $50.16 billion (up 20.52 per cent) over the past 24 hours, it showed.
According to CoinMarketCap, Bitcoin's dominance in the overall crypto market is at 61.2 per cent. This represents the percentage of Bitcoin's total market cap compared to the total market cap of all other tokens combined.
Edul Patel, Co-founder and CEO of Mudrex told Livemint that Bitcoin hovering around $103,700 after briefly testing resistance at $105,000, is supported by better-than-expected April CPI data at 2.3 per cent.
Presto Research noted that Bitcoin's dominance has reached levels last seen before the 2021 bull market, and capital is starting to flow into altcoins.
Second biggest crypto token Ethereum was at $2,647.38 up 8.55 per cent over the previous day, with market cap of $319.95 billion; while stablecoin Tether was at $0.9997, up 0.03 per cent day-on-day, with market cap of $150.31 billion.
Donald Trump's favoured Solana was also up 6.97 per cent to $180.92, with market cap of $93.97 billion.
Data from CoinShares showed that for the third week in a row, investments in crypto funds last week jumped by $882 million. It credited a combination of factors such as risks of stagflation in the US, growth of M2 money supply globally, and forward movement with the strategic bitcoin reserve by US states.
Of the tokens, Bitcoin saw funds of $867 million, followed by Ethereum ($1.5 million), and XRP ($1.4 million); while investments in Solana decreased by $3.4 million.
HTX Reserch noted that institutional investors, such as BlackRock's Bitcoin ETF infusions, and Abu Dhabi's sovereign wealth fund, are driving growth.
Patel added, 'This is the third straight month of cooling inflation, strengthening expectations of Fed rate cuts in 2025 and boosting the outlook for risk assets. Interestingly, Bitcoin's 10-day realized volatility dropped to 43.86, lower than S&P 500 and the Nasdaq 100 at 47.29 and 51.26 respectively, showing the increasing maturity of Bitcoin as an asset. The lower volatility, cooling inflation and a trade war truce, creates favorable market conditions for Bitcoin's next leg of rally.'
Alex Kuptsikevich, chief market analyst at FxPro suggested some caution due to profit booking. 'The crypto market cap has fallen despite continued positive traction in the equity market. The strengthening dollar on news of tariffs has been a natural drag on cryptos. This is doubly true due to Bitcoin's proximity to the highs, reinforcing the pull for short-term profit taking after rallying in just over a month,' he pointed.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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