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The Bitcoin price dropped 6% in the last 24 hours to trade at $95,960 as of 3.40 a.m. EST on trading volume that shot up 37% to $66.39 billion.
The BTC price dropped after previously surging since Jan. 1, and finally breaking the barrier at $100k on Monday, which allowed it to return above this level for the first time in 2025. However, a resistance at $102.5k stood in its way, keeping BTC from progressing further, and eventually, after trying to breach the resistance for nearly 24 hours, the coin’s price was rejected.
Why are people freaking out about a dip?#Bitcoin price is looking pretty stable to me 👀 pic.twitter.com/k3XKvCVN5R
— Michael R. Sullivan (@SullyMichaelvan) January 7, 2025
Bitcoin reacted by sinking back to $95k, but fortunately, this resistance allowed it to stop the rapid descent. In fact, it is already giving signs of recovery at the time of writing. While some of the investors quickly started selling when the price dipped, others have waited for it to find its bottom, and then used the opportunity to buy “at a discount.”
Bitcoin Price Prediction
As mentioned, Bitcoin’s price drop was quite sharp and sudden, which was bound to get opportunity seekers to wait for their moment to move in and buy the dip, and this is happening right now. Any sudden price movement is followed by a rebound, so the fact that a recovery is already taking place is not surprising.
The coin’s Bollinger Bands have seen a major widening when the price started to drop, but they quickly narrowed down, becoming quite close to one another as the uncertainty grew. Now, they are widening again as traders and investors once again have a clear path set before them. Meanwhile, the price, which previously pushed the lower band further down, has already increased to the middle line between the two bands, and could soon return to the upper band if trader optimism persists.
Something similar can be seen in the project’s Relative Strength Index (RSI) value, which dropped deep into the oversold zone yesterday. The RSI dropped to the value of 10, which is a rare sight, but it quickly started growing as the traders moved in to buy the coin at a lower price.
This pushed the RSI back to the neutral zone and the value of 50, but many deduced that it is too early for a recovery, so they started selling again once the RSI reached this point. This took it down once again, this time to the value of 22, which is when another wave of purchases came, sending the RSI value straight back to the value of 50.
This time, however, the price is displaying a more active recovery, which could encourage traders to keep buying, rather than repeat the previous pattern. However, with uncertainty currently being quite high, there are no guarantees on what will happen, at least for the time being.
Promising Alternative To Bitcoin
While Bitcoin’s price is seeing strong movements these days, many investors are turning to projects that are more likely to bring significant gains, such as Flockerz (FLOCK).
Flockerz is a bird-based meme coin that has been in presale for a few months now, during which it attracted plenty of investors and new community members. In fact, its ICO just recently broke through the $9 million milestone, currently sitting at $9.15 million raised.
🐦 Let your flock flag fly! 🐦
9M Raised is no small feat! The flock is pushing hard for Flocktopia! 🐦🔥🚀 pic.twitter.com/Ad8c15xPFi
— Flockerz (@FlockerzToken) January 7, 2025
The project’s popularity comes from a new model called Vote-To-Earn, which was designed to reward those who vote on various proposals and help Flockerz decide on the best path to take. Thanks to the incentivizing new model, Flockerz can ensure lasting decentralization, as its token holders are more likely to keep coming back and voting regularly to earn more tokens.
The project also offers high staking rewards, which allows those who earn FLOCK through voting to stake their tokens and earn even more in a low-risk, passive way. It all starts with the initial investment into FLOCK, which will make you the FLOCK token holder, and grant you access to community governance.
After that, you can just keep earning from a continuous cycle of voting and staking. With that being the case, the best time to buy FLOCK is right now, while its price is still low, sitting at $0.0066351. However, you should not wait too long to make your move, as the FLOCK ICO is coming to an end. In only 14 days, the token will go live, and after that, many expect its price to skyrocket.
ClayBro, a popular crypto YouTuber with over 134k subscribers, recently speculated that Flockerz could bring 100% gains after going live, making this the best time to buy FLOCK tokens.
Visit FLOCK’s official website.
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