Bitcoin (BTC) is currently priced at $117,739, reflecting a minor 24-hour change of -0.01065%. The daily trading range has been between $117,279 and $118,514, with a volume of approximately $19.55 billion, indicating substantial market activity despite the slight price decline.

The short-term moving averages indicate a bearish trend, with the 8 SMA at $118,283 and the 13 SMA at $118,230 both showing negative changes of -0.46% and -0.42% respectively. In contrast, the longer-term 144 SMA at $119,132 suggests that BTC is trading below a significant resistance level, which could hinder short-term bullish momentum.

The 1-hour RSI is at 49, indicating a neutral position, while the 7-day RSI at 48 confirms the absence of significant upward or downward momentum. Additionally, recent price changes show a 7-day decline of approximately -0.67%, contrasted with a modest increase of 2.97% over the last 14 days, suggesting some recovery potential in the medium term.

Despite trading near its all-time high of $124,128, the current price action suggests a consolidation phase rather than a strong bullish trend. The low volatility reflected in the volume-to-market cap ratio of 0.83% further implies that market participants may be adopting a wait-and-see approach amid uncertainty.

Considering the combination of neutral RSI readings, resistance from moving averages, and the recent price behavior, a cautious stance is warranted. Therefore, the recommendation for Bitcoin (BTC) is to Hold, as the market appears to be stabilizing with potential for upward movement if it can break above key resistance levels.