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The Bitcoin price edged up a fraction of a percent in the last 24 hours to trade at $97,674 as of 02:25 a.m. EST on trading volume that dropped 21% to $113 billion.
This comes as Microsoft shareholders recently rejected a proposal to invest in Bitcoin, despite predictions of significant market growth. MicroStrategy CEO Michael Saylor had earlier presented the proposal, advocating for Microsoft to diversify its portfolio by allocating a portion of its reserves to Bitcoin.
Despite his optimistic outlook, Microsoft’s board cautioned against the plan, citing concerns about potential risks and volatility.
Meanwhile, Bitcoin continues to attract massive attention from individuals and firms, including Ray Dalio, founder of Bridgewater Associates, who views Bitcoin and gold as stores of value that help investors move away from debt and towards hard money.
Additionally, Goldman Sachs CEO David Solomon stated that the firm could consider trading Bitcoin and Ethereum if US regulations change, noting that while Bitcoin is currently a speculative asset, growing interest in crypto may lead to new opportunities for the firm.
Bitcoin Price Aims For A Bullish Rally
The Bitcoin price chart displays a strong bullish trend overall, particularly in recent months. After a prolonged sideways consolidation phase between August and November 2024, within the $62,000 level by the purple rectangle), the price broke out decisively and has been making higher highs and higher lows since then.
Currently, the Bitcoin price is consolidating within a rising channel pattern (yellow lines) near the psychological resistance level of $100,000, according to data from GeckoTerminal. This pattern often signals a potential slowdown or correction but can also lead to the continuation of strong bull markets.
As the Bitcoin price trades well within the confines of the rising channel pattern, BTC still remains above both the 50-day and 200-day Simple Moving Averages (SMAs), which shows that the asset could still soar higher.
Meanwhile, the Relative Strength Index (RSI) is currently at 58.48, indicating neutral to mildly bullish momentum. This suggests that the price is not yet overbought, leaving room for further upside.
Major resistance is around the $100,000 level. A clear break above this level with volume could open the door for further upside, as the bulls target $105,000 in the long term.
However, if the bears take charge of the price, BTC could plunge back, where key support levels include $92,000 (lower wedge support) and the 50-day SMA at $85,743.
Meanwhile, investors are also piling into the presale of Best Wallet ($BEST), which according to ClayBro, a popular crypto analyst on YouTube with over 132K subscribers, ”Could Be The Best Crypto Wallet Of 2025.”
Best Wallet Presale Amasses Over $3.3 Million
Best Wallet has become a magnet for investors, surpassing $3.3 million in early funding and solidifying its position as a top Web3 wallet.
Best Wallet is a Web3 crypto wallet that offers advanced features and an intuitive interface, setting itself apart from traditional wallets. It allows users to access exclusive tools like “Upcoming Tokens” for high-potential presales.
Upcoming Tokens is a game-changing tool that could give investors a valuable edge in the crypto space. By allowing them to get in on potentially high-value investments before they hit the mainstream, it positions these investors ahead of the curve in crypto’s fast-paced, ever-evolving market.
No more missing out on early-stage #crypto projects! 💸
With Best Wallet’s Upcoming Tokens feature, you can easily browse, learn, and buy presale tokens directly from the app!
Download now! 👉 https://t.co/he5kzra7TY pic.twitter.com/ZcNZ1b6Up1
— Best Wallet (@BestWalletHQ) October 26, 2024
The meme coin Catslap ($SLAP), which was featured on the app, surged 4,900% after launch, cementing Best Wallet’s reputation as a go-to platform for uncovering hidden crypto gems.
Traders can also stake BEST tokens for a huge 853% annual percentage yield (APY).
$BEST is priced at $0.023075 right now. If you are interested, buy before a price hike in less than 2 days.
Join the presale at the official BEST Token website here.
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