The Bitcoin price fell 2.4% in the last 24 hours to trade at $95,371 as of 00:04 a.m. EST on trading volume that plunged 9% to $31 billion.
That came despite news that Goldman Sachs upped its BTC ETF (exchange-traded fund) holdings by 114% to $1.52 billion. It purchased $1.28 billion worth of shares in the BlackRock iShares Bitcoin Trust (IBIT) and $288 million worth of Fidelity Wise Origin Bitcoin Fund (FBTC), according to a 13F filing on Feb. 11.
BTC Price Trading Within Support
The BTC price bulls took control of the price in October after a prolonged consolidation within the $64,500 level to push it to an all-time high (ATH) of around $108,786.
However, the bulls lost control, as the Bitcoin price has been trading within a sideways pattern, between the $92,000 and the $108,000, according to GeckoTerminal data.
BTC is now trading within the $95,426 support zone, slightly below the 50-day Simple Moving Average (SMA). However, the price of Bitcoin still remains above the 200-day SMA, which is a sign that BTC may still soar.
Meanwhile, the Relative Strength Index (RSI) is showing signs of a correction, as the bears have taken over the price, as it drops towards the 30-oversold level, currently at 40.
Bitcoin Price Chart Analysis. Source: GeckoTerminal
If BTC continues to drop from the current support, the bears may push the price down towards the $72,290 support zone within the 200-day SMA.
However, if the price of Bitcoin rebounds from the current level, we could see the bulls target the $108,700 level.
As the BTC price aims for a rebound, investors are rushing to buy a new Bitcoin alternative called BTC Bull Token ($BTCBULL). 99Bitcoins, a prominent YouTube channel with over 724k subscribers, says BTCBULL has the potential to soar 10X after launch
BTC Bull Token Presale Races Toward $1 Million
BTC Bull Token has gained instant traction in the crypto space, having raised over $856K in less than 48 hours after its launch.
As Bitcoin marches toward the $1 million target, BTC BULL Token holders will get rewarded along the way. Investors who hold $BTCBULL in Best Wallet will receive free BTC airdrops when the Bitcoin price hits $150k and $200k.
There will also be ”a huge $BTCBULL airdrop” for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
In addition to BTC airdrops, the team will also carry out token burns, permanently removing a portion of the total supply. The aim is to follow in Bitcoin’s footsteps and increase scarcity and value.
Bitcoin Bull token holders can also earn passively by staking the tokens for an annual percentage yield (APY) of a huge 485%.
Investors interested in participating in the presale can visit the official BTC Bull website to buy BTC BULL Tokens for $0.002355 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in less than 4 days to secure the best deal.
Check out BTC Bull here .
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