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The Bitcoin price surged 4% in the last 24 hours to trade at $63,521 as of 00:49 a.m. EST on trading volume that skyrocketed 82% to $21.5 billion.
This comes after a lackluster performance in June, when the BTC price plunged almost 7%.
The price of Bitcoin has historically averaged a 0.35% drop in June, according to data from Coinglass. But whenever June ends in a downtrend, the following month sees a notable comeback, with Bitcoin gaining an average of 7% historically.
According to an analyst Murad on X, Bitcoin has posted minimum gains of 28% in the first few weeks of every July for the last six consecutive years.
Reason 1 to be bullish for July on this last day of bearish June pic.twitter.com/E5T4Qr2Rki
— Murad (@MustStopMurad) June 30, 2024
However, other analysts predict that July could be a tough month, with downward pressure possible because of upcoming Mt. Gox repayment sales.
Bitcoin Price To Sustain Its Rally Over The Lower Boundary Of The Bullish Pennant
The Bitcoin price has in the last month dropped from the $71,809 resistance to the lower boundary of the bullish pennant pattern, according to data from GeckoTerminal. BTC price bulls seem to be using the $60,416 support level to push the token toward the upper boundary of the pennant.
The price of Bitcoin trades well above the 200-day Simple Moving Average (SMA), affirming the bullish rally in the coming days. However, BTC must overcome the 50-day SMA level at $66,499, which acts as the immediate resistance level.
Moreover, the Relative Strength Index (RSI) is rebounding from the 30-oversold level as it races towards the 50-midline level, showing that buyers are currently intensely buying. If the buying pressure increases, the RSI could soar past the 70-overbought region.
The BTC price analysis on the 1-day chart is an indication that BTC is gearing up for a sustained bullish stance over the bullish pennant pattern, as the bulls target its previous resistance level, after which bulls aim for a long-term target of $90,000.
In an inverse scenario, if the bears take control of the price and breach the $60,000 critical support level, BTC could soar to the next support zone around $58,216, coinciding with the 200-day SMA.
Meanwhile, as the BTC bulls look for more entry positions to push the token up, investors are flocking to the learn-to-earn platform 99Bitcoins (99BTC), which has already soared past the $2.3 million mark in funding.
According to Jacob Bury, a prominent crypto YouTuber, 99BTC has the potential to turn $1K into $10K after launch.
99Bitcoins Presale Surges Past $2.3 Million In Funding – Best Bitcoin Derivative To Buy Now?
Since its launch in 2013, 99Bitcoins (99BTC) has been a major pillar of crypto education. The platform has over 2 million registered users for its courses and more than 700K subscribers on its YouTube channel.
99Bitcoins is gamifying crypto education by allowing users to tackle challenges and complete lessons to earn higher rankings and rewards through $99BTC tokens.
What is Spatial Computing? Discover how #Blockchain is transforming AR/VR, making immersive digital worlds more interactive and secure.
Dive deeper: https://t.co/2hlZYRFHBv#99BTC #SpatialComputing #Web3
— 99Bitcoins (@99BitcoinsHQ) April 8, 2024
The project also integrates with BRC-20, which allows the building of dApps on the Bitcoin Network.
Introducing $99BTC on BRC-20! 🎓
Since 2013, #99Bitcoins has been the go-to resource for learning about #Cryptocurrency.
We're launching a platform that enables the building of #dApps on top of the #Bitcoin network!💡#LearnToEarn rewards users on the Bitcoin blockchain.🙌
— 99Bitcoins (@99BitcoinsHQ) April 30, 2024
Token holders can also stake 99BTC tokens for an impressive 722% annual percentage yield (APY).
You can buy 99BTC tokens for $0.00111 each. With a price hike coming in less than 23 hours, buy soon to lock in the best deal.
To join the presale, buy $99BTC from the official website here using ETH, USDT, or a bank card.
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