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The Bitcoin price slid 1% in the last 24 hours to trade at $93,437.84 as of 9:37 p.m. EST as investors decrease their exposure to the crypto.
The drop in the BTC price comes even as Strategy co-founder Michael Saylor hinted at another Bitcoin buy after posting the SaylorTracker chart on X yesterday. In the past, these posts have been followed by an announcement of a Strategy purchase.
Stay Humble. Stack Sats. pic.twitter.com/gkjvxkn5Ek
— Michael Saylor (@saylor) April 27, 2025
Whales have also accumulated Bitcoin below the $100K mark. Glassnode data shows the number of wallets holding at least $1 million worth of BTC has risen from 124,000 on April 7 to more than 137,600 on April 26.
Bitcoin Price Battling To Overcome A Major Resistance
Daily chart for BTC/USDT (Source: TradingView)
The Bitcoin price has been in a multi-day battle with the resistance level at $94,650.81. Should the largest crypto by market cap overcome this barrier within the next couple of days, it could clear the room needed to rise to the next major mark at $103,067.40.
However, sellers have been able to defend the $94,650.81 level in the last few days. Should they manage to keep the Bitcoin price below this point for the next 48 hours, there is the risk that the bullish thesis might not play out. In this alternative scenario, traders might grow impatient and start to short BTC.
That potential sell pressure could then lead to a correction down to the nearest support level at $84,993.15. Should the Bitcoin price fall to this point and the sell pressure persist, the crypto could then end up plunging down to as low as $75,583.11.
Sellers Could Have The Strength Needed To Push The Bitcoin Price Down In The Next 24 Hours
A bearish scenario seems more likely to play out in the next 24 hours, with both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) on the daily chart showing bearish signs.
In the last couple of days, the MACD line has started to drop towards the MACD Signal line. The shrinking margin between the two technical indicators and their current alignment warns BTC’s bullish cycle has reached a peak and is now nearing its end. If the MACD line crosses below the Signal line, it could confirm the Bitcoin price has entered a new negative short-term trend.
Meanwhile, the RSI line has also started to collapse towards its Simple Moving Average (SMA) line on the daily chart in the last couple of days. Traders might see this as an indication of weakening buyer power. Although the current RSI reading above the neutral 50 mark is bullish, the negative slope of the indicator suggests bears could take over soon.
As the Bitcoin price tries to overcome a major resistance, investors are piling into the presale for new meme coin BTC Bull Token (BTCBULL). Prominent YouTube channel 99Bitcoins, which has over 725K subscribers, says BTCBULL has the potential to soar 10X after its launch.
Investors Stand To Earn Free Bitcoin By Just Holding BTCBULL
BTC Bull Token is a meme coin like no other, and offers its holders free Bitcoin via airdrops. Built on the belief that the crypto market leader will rise all the way to $1 million and possibly even beyond, the project will distribute the free BTC to its investors when Bitcoin reaches certain milestones.
The next Bitcoin airdrop will be when BTC hits $150K for the first time. Thereafter, every $50K increase in the crypto’s price will also trigger an airdrop.
In addition to the airdrops, there will also be BTCBULL token burns that will happen with every new $25K milestone Bitcoin achieves, starting at $125K. These burns will reduce the supply of the meme coin, which will make it more scarce and subsequently more valuable.
Combined with the buy pressure from investors looking to get in on the BTC airdrops for cheaper Bitcoin exposure, the token burns could ignite a rally for BTCBULL.
BTC Bull Token Presale Raises Over $5 Million
BTC Bull Token has already crossed the $5 million milestone with its ongoing presale, signaling strong investor confidence in the project’s future.
Interested investors can participate in the ICO and purchase BTCBULL for $0.002485 apiece through the simple buy widget embedded on the project’s website. Available payment options include both crypto and bank cards.
After purchasing some BTCBULL tokens, investors can also stake them for an 81% APY. However, investors will want to act fast in order to secure the best deal, because BTCBULL’s price will undergo a presale increase in around 2 days.
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