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The Bitcoin price surged 2.7% in the last 24 hours to trade at $65.775 as of 3:20 a.m. EST on a 68% pump in trading volume to $43 billion.
This surge follows comments by BlackRock CEO Larry Fink, who reaffirmed his belief that Bitcoin is a legitimate new asset class, bracketing the digital asset with gold.
BREAKING: BlackRock CEO Larry Fink says neither Donald Trump nor Kamala Harris is a factor for crypto price as "we believe #Bitcoin is an asset class in itself." pic.twitter.com/HpBQtYvz8B
— Altcoin Daily (@AltcoinDailyio) October 14, 2024
There was more good news for BTC with Bitcoin ETF (exchange-traded fund) inflows surging to $555.86 million on Oct. 14, a four-month high.
Bitcoin Price Signals More Upside Ahead
This BTC/SDT chart represents major technical analysis indicators. From July through September 2024, an inverted head-and-shoulders formation is very apparent.
This is often a bullish reversal pattern, where the head formed at approximately $54,500 while each shoulder formed at about $57,542 to $59,000. When the price pierced through the neckline line at around $60,000, the market entered an uptrend, signaling the start of a potential upward movement.
BTCUSD Analysis Source: Tradingview
A support level can be seen around $60,829, which coincides with the 200-day SMA. This level would most likely serve as a strong support zone in case of a retracement for the continuation of the upside momentum.
In addition, the 50-day SMA stands at $63,341, and the price is above both the 50-day and 200-day SMAs, confirming the bullish outlook even more for the Bitcoin price.
Bitcoin Price Rides On Bullish Technicals
In the moment, Bitcoin changes hands at $65,675, reflecting an intraday pullback of 0.62%. However, the sentiment indicators are still pretty positive because the RSI is at 62.13, which suggests that the leading cryptocurrency is in the neutral-bullish zone. Considering this, the RSI has not crossed overbought territory, which usually comes above 70, Further price appreciation can be expected before certain pullbacks.
According to the technical chart, the target price is projected to be $75,000-$80,000 after the breakout from the inverted head and shoulders. The dashed line suggests an even higher upside toward this target.
With the bullish pattern, strong support at $60,829, and favourable RSI levels, Bitcoin remains poised for higher prices toward the projected target.
Flockerz Presale Zooms Past $707k
As the Bitcoin price continues its bullish surge, traders are also buying into the new Vote-to-Earn (V2E) token Flockerz (FLOCK), which has just crashed past $707k in its presale.
Flockerz is a community-driven meme coin that empowers its members, known as “The Flock,” to guide the project’s direction through a decentralized autonomous organization (DAO) called FlockTopia.
In this innovative model, every token holder can participate in decision-making and earn rewards in FLOCK via the V2E system.
Soaring higher, side by side with the flock. Join us for the flight of a lifetime! pic.twitter.com/IHxPKsdkET
— Flockerz (@FlockerzToken) October 12, 2024
The V2E system rewards participants for their involvement, enabling holders to earn $FLOCK tokens simply by voting on the project’s future direction. Whether influencing major decisions or providing input on important proposals, every vote matters.
All roads lead to Flockerz. Vote-To-Earn is going to change the way meme coins empower their community. pic.twitter.com/cqf1jaNPZJ
— Flockerz (@FlockerzToken) October 5, 2024
FlockTopia allows the community to control key aspects like project development, marketing strategies, and token burns. This structure ensures newcomers and seasoned crypto enthusiasts can influence and profit from the project’s growth, promoting true decentralization and engagement.
Prominent crypto analyst and YouTuber Jacob Bury, who has over 43k subscribers, predicts that $FLOCK could experience a 10X surge following its launch.
Investors can also stake $FLOCK tokens for an eye-popping annual return of 2,465%.
Currently, $FLOCK tokens are priced at $0.0057699 each and can bought with $ETH, $BNB, $USDT, or a bank card. The price will increase in less than 24 hours, so hurry to secure the best deal before then.
Buy FLOCK tokens on the official website here.
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