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The Bitcoin price tumbled 1.4% in the last 24 hours to trade at $97,384.34 as of 5:21 a.m. EST as some investors reduce their exposure to the leading crypto.
This slight drop in the BTC price came as a filing showed fund management titan BlackRock had increased its stake in Michael Saylor’s Strategy, which rebranded its name from MicroStrategy yesterday, to 5% from 4.09% previously.
The purchase further increased the giant fund manager’s exposure to Bitcoin-linked assets. Strategy is the biggest corporate holder of Bitcoin.
Bitcoin Price Escapes From A Negative Channel
4-hour chart for BTC/USDT (Source: TradingView)
The Bitcoin price was able to break out of a short-term descending channel in the last 24 hours, and is now oscillating between $95,703.66 and $98,063.55. Should traders identify BTC’s current price as a buy opportunity, the leading crypto might end up flipping the $98,063.55 resistance level into support. Thereafter, it could rise to $101,461.81.
On the other hand, a bearish scenario could lead to a test of the $95,703.66 support. If sellers start to exert pressure on the Bitcoin price, the crypto might even drop below this technical safety net and plunge to as low as the subsequent support at $93,904.24.
Technicals Suggest The Bitcoin Price Might Start To Climb Soon
From a technical perspective, indicators on BTC’s 4-hour chart suggest the crypto might rise in the next couple of hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing early bullish signs.
The RSI rebounded off of its Simple Moving Average (SMA) line in the last couple of hours. This suggests that sellers tried to overpower buyers, but the latter managed to defend the Bitcoin price from the attempted attack. Now, with the positive slope of the RSI line, it appears buyers are accumulating strength against sellers, which could lead to BTC rallying soon.
Similar to the RSI and SMA, the MACD line rebounded off of the MACD Signal line in the last couple of hours as well. The MACD line crossing below the MACD Signal line might have been interpreted as a confirmation that the Bitcoin price entered into a negative trend.
However, the gap between the MACD and MACD Signal lines, with the former positioned above the latter, is starting to grow. This widening margin between the two technical indicators suggests BTC ‘s bullish momentum is starting to pick up steam.
Meanwhile, investors are piling into the Best Wallet (BEST) presale as it charges towards $10 million. According to Crypto Gains, a popular YouTuber with over 141K subscribers, BEST has the potential to surge 10X after launch.
The Ultimate Crypto Wallet For Investors
Best Wallet is a crypto wallet solution that offers users all of the features they need to store, grow and secure their digital assets all within a single application. On top of its support for over 60 blockchains and all of the tokens and coins deployed on them, the application also lets users import their crypto wallets from across the Web3 ecosystem.
Users can, however, rest assured that their crypto is safe, because Best Wallet is non-custodial. This means that the application does not store user’s encrypted private keys in a centralized database, ensuring that users are the only ones who can access their crypto funds.
This robust security is complemented by an array of in-app features, including a multi-crypto staking solution that lets users grow their holdings with minimal effort, the seamless swap feature that lets users swap between cryptos with ease, and so much more.
🚀 Tokens of the Week 🚀
Here are three trending tokens making waves:
Which one are you watching? 👀 pic.twitter.com/fYTlMBsTbC
— Best Wallet (@BestWalletHQ) February 7, 2025
A feature that stands out the most is the “upcoming tokens” section that flags emerging crypto with high potential. This feature has already identified Catslap (SLAP) and Pepe Unchained (PEPU), which have both yielded massive returns for investors who bought in when Best Wallet first flagged the meme coins.
Investors Bet Big On BEST’s Future
Best Wallet users can unlock even more benefits such as higher staking rewards, lower transaction fees as well as early access to new projects. With this in mind, it’s easy to see why BEST has already raised more than $9.2 million through its ongoing presale so far.
There is also an attractive 185% APY on offer to anyone who buys and stakes BEST tokens.
To gain access to these rewards and unlock the additional benefits, investors need to buy BEST tokens through the widget embedded on the project’s website. Currently selling for $0.0239, BEST can be bought with either crypto or bank card.
Buy BEST here before a price hike in less than 32 hours.
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Best Wallet - Manage Your Crypto
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