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The Bitcoin price dropped over 1% in the last 24 hours to trade at $84,113 as of 12:10 a.m. EST, with trading volume plunging 6% to $26.6 billion.
This decrease in the BTC price comes even as healthcare technology firm Semler Scientific files with regulators to raise up to $500 million to buy more Bitcoin.
Bitcoin Price Currently Consolidating
The BTC price on the daily timeframe presents a rounded top pattern, signaling a slowing of bullish momentum and, eventually, a shift in market sentiment.
The Bitcoin price broke downward, forming a local top near the $100,000 level before retracing to test the 200-day Simple Moving Average (SMA) around $87,486.
BTC’s price has since consolidated below this resistance zone, caught between the 50-day and 200-day SMAs. It is currently sitting at $83,990 and $87,486, respectively, as GeckoTerminal data shows.
This zone is crucial, as a sustained move above the 200-day SMA could shift sentiment bullish again, while rejection might lead to a significant downturn.
Furthermore, a fair value gap (FVG) is between approximately $60,000 and $63,000, representing an area of market inefficiency that could be filled in a bearish scenario.
Meanwhile, the Relative Strength Index (RSI) currently sits at 51.49, reflecting a neutral stance with neither bullish nor bearish dominance.
While the Moving Average Convergence Divergence (MACD) line remains above the signal line, suggesting a slightly bullish bias, the histogram shows minimal momentum, reinforcing the current indecision.
BTC Price Prediction
Based on the current technical setup, BTC is at a crucial juncture.
Should bulls manage to reclaim the 200-day SMA and breach the horizontal resistance near $88,000, the market could trigger a breakout rally toward the psychological $100,000 level, representing a potential 16.48% move from current prices.
Conversely, failure to maintain support here and a rejection from the SMAs could open the door for a more significant retracement.
In that case, the Bitcoin price may fill the FVG and revisit the $63,000 region, which has not been tested since the last breakout phase.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give token holders free Bitcoin.
99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Racing Toward The $5 Million Milestone
Although Bitcoin has been in constant decline since it peaked at $109,487 in late January, BTC Bull Token investors are confident the leading cryptocurrency is on track to soar to $250,000.
BTC Bull Token is a meme coin representation of Bitcoin but with actual utility. Every time Bitcoin hits a new milestone, starting at $150,000, BTCBULL holders receive real Bitcoin via airdrops, distributed based on the number of tokens they own.
The airdrops don’t stop there, as the reward mechanism resets with every $50,000 jump in Bitcoin’s price, which means more airdrops at $200,000, $250,000, and so on.
The project has already raised over $4.7 million as investors seek an alternative way to gain BTC exposure.
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
Additionally, at every $25k increase in the BTC price, starting at $125k, the project will buyback and burn BTCBULL tokens.
BTCBULL token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 87% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL tokens for $0.002465 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in a little more than 2 days to lock in the best presale rate.
Visit the BTC Bull Token website.
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