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The Bitcoin price slid over 1% in the last 24 hours to trade at $94,336.83 as of 9:39 p.m. EST as investors decrease their exposure to the leading crypto.
Despite the dip in the BTC price, Strategy co-founder Michael Saylor has signaled an impending Bitcoin purchase after the company’s Q1 earnings call. Yesterday, the co-founder posted the SaylorTracker chart on X. Historically, these posts have been followed by announcements of Bitcoin buys.
Too much blue, not enough orange. pic.twitter.com/s1L6tWfC14
— Michael Saylor (@saylor) May 4, 2025
Bitcoin Price Hovering Below A Major Resistance
Daily chart for BTC/USDT (Source: TradingView)
The Bitcoin price is hovering below the resistance level at $98,371.74. Should the largest crypto by market cap break above this technical obstacle, it might eye the subsequent barrier at $107,963.22 next.
However, a rejection from the $98,371.74 resistance might result in a retest of the nearest support level at $88,023.04. Thereafter, continued pressure from sellers could lead to a plunge to as low as $77,926.75.
Bears Slowly Starting To Take Control Of The Bitcoin Price
From a technical standpoint, indicators on the daily chart warn the Bitcin price might drop some more over the course of the next 48 hours. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) show bears are slowly starting to take control of the Bitcoin price.
That’s as the MACD line attempts to cross below the MACD Signal line. Should the prior break below the latter soon, it could confirm that the Bitcoin price has entered a short to medium term bearish trend.
Meanwhile, the RSI has plummeted to below its Simple Moving Average (SMA) on the daily chart as well. Traders might see this as a sign that sellers have gained an upper hand against buyers on the daily chart.
Although the current RSI reading above 50 is still bullish, the negative slope of the RSI line suggests the indicator could end up dropping below the 50 mark soon. If this happens, bears might be able to completely overwhelm bulls and push the Bitcoin price down much further.
While Bitcoin technicals start to show bearish signs, investors are piling into the presale for a new meme coin called BTC Bull Token (BTCBULL). Popular YouTube channel 99Bitcoins, which has over 725K subscribers, says the crypto has the potential to soar 10X after its launch.
A Meme Coin Offering Investors Free Bitcoin
BTC Bull Token is a Bitcoin-branded meme coin built on the belief that the largest crypto by market cap will soar to above the $1 million mark. Should BTC’s price rise to new heights, the project will reward its token holders with Bitcoin airdrops and BTCBULL token burns at certain price milestones.
The first Bitcoin airdrop will happen when BTC hits $150K for the first time. Thereafter, every new $50K milestone achieved by the crypto market leader will result in another airdrop. The project’s BTCBULL token burns will start earlier, with the first set to take place once Bitcoin hits $125K. Every subsequent $25K increase will then also permanently remove tokens from the supply.
BTCBULL’s shrinking supply due to the token burns coupled with the demand from buyers looking to get in on the Bitcoin airdrops could lead to a favorable supply and demand ratio for the project. As less tokens circulate, the upside pressure from the demand will be amplified. This could lead to the 10X rally predicted by 99Bitcoins.
What’s more, BTCBULL offers investors a much cheaper way to gain exposure to the leading crypto, especially as institutions aggressively buy Bitcoin.
Investors Rush To Buy BTCBULL At Presale Prices
Investors are already betting big on BTC Bull Token’s future, having poured more than $5.3 million into the project’s ICO so far. This buying frenzy is likely to continue given the 77% APY on offer to presale buyers who stake their tokens at this early stage.
Interested investors can purchase BTCBULL via the simple buy widget embedded on the project’s website. Selling for $0.002495, the meme coin can be bought with either crypto or bank card. After getting a hold of some tokens, investors can then navigate to the staking page on the website to put their tokens to work.
Buyers that want to secure the best deal will want to hurry, however, because BTCBULL’s price will undergo multiple staged increases as the ICO progresses. The next price hike will come into effect in around 31 hours.
Visit the BTC Bull Token website.
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