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The Bitcoin price has increased 0.3% in the last 24 hours to trade at $105,418 as of 4:19 a.m. EST on a 13% drop in daily trading volume to $24 billion.
The modest BTC price increase comes after NYSE Arca submitted a filing to the SEC for the launch of the Truth Social Bitcoin ETF, backed by Trump Media & Technology Group. The proposed fund would track the price of Bitcoin, similar to existing spot Bitcoin ETFs.
Foris DAX Trust Company, owned by Crypto.com, is set to serve as the fund’s custodian if approved.
Trump’s company just filed for a Truth Social Bitcoin ETF, which will track spot bitcoin and list on NYSE. pic.twitter.com/I3ejMbhyl1
— Eric Balchunas (@EricBalchunas) June 3, 2025
With Bitcoin already sitting at $105,514, a Trump-backed spot ETF could push it even higher, maybe even breaking that $111,917 high from May 22.
Bitcoin Price Is On An Uptrend – Here’s The Key Level To Watch
The 4-hour BTC/USD chart shows Bitcoin in a larger falling channel pattern since late May. That’s a bullish setup, since channels like this often break to the upside. The price is currently at $105,524, sitting below the 50 Simple Moving Average (SMA) resistance around $106,1465.
If the BTC price breaks and holds this resistance level, there could be a further breakout from the larger falling channel toward the “Key Resistance Level” marked at $107,366.
The Relative Strength Index (RSI) at 49.95 is not overbought, but is consolidating around the mid-point, suggesting BTC accumulation may be on-going. With much room to overbought the region, a BTC breakout may be in the works.
BTCUSD Analysis Source: Tradingview
BTC Price Eyes $107,366 As Open Interest Jumps Positive
Data from Coinglass shows positive change in both Bitcoin’s price and open interest (OI). When the OI rises, it means capital is flowing into Bitcoin. Coupled with an increase in price, it signals that traders are entering long positions on the asset.
If the ETF news pumps sentiment, Bitcoin could smash through $107,366 to $110,000 and finally to $111,917, aiming for $120,000, a psychological target level.
But if the SEC plays hardball and rejects the ETF, there might be a dip. The chart’s lower support at $100,000 — $102,000 could catch a fall, but a break below that might send BTC to $95,000, where buyers could swoop in again.
Short-term, BTC is bullish and could soar to $112,000 by mid-June if the breakout happens, and $120,000 by July if this particular ETF gets approved. But keep an eye on that $100,694 support.
Stack Sats With The BTC Bull Token Presale — Only 26 Days Left!
As Bitcoin hovers around $105,500, a new player called BTC Bull Token (BTCBULL) continues to surge in its presale which has already raised over $6.7 million.
With Bitcoin’s price climbing and big players like Trump Media piling into BTC, BTCBULL offers everyday investors a fun, accessible way to join the ride without needing to buy a whole Bitcoin.
BTCBULL is built on a solid idea: reward those who believe in Bitcoin’s unstoppable rise. The project ties its rewards directly to Bitcoin’s price milestones. When BTC hits $150,000, a 42.44% jump from today’s price, BTCBULL holders get real Bitcoin airdrops. More airdrops follow every $50,000 increase, like $200,000 and $250,000, giving investors passive BTC income just for holding tokens.
It’s like getting a slice of Bitcoin’s success without the hefty price tag.
Last chance to buy BTCBULL before launch! 🐂🧨
The countdown ends on June 30th. ⌛
Here’s what’s coming:
🔥 BTCBULL token burns
🪂 BTC airdrops at price milestones
🎁 BTCBULL airdrop when Bitcoin hits $250KJoin the herd: https://t.co/FQZXEzFwWu pic.twitter.com/aeUmLJcSOC
— BTCBULL_TOKEN (@BTCBULL_TOKEN) June 2, 2025
But that’s not all. BTCBULL also boosts its value through token burns. Starting when Bitcoin reaches $125,000, a chunk of BTCBULL tokens gets permanently removed from circulation every $50,000 after that. Less supply, same demand? That’s a recipe for price growth. Add in staking rewards, currently at an attractive 60% APY, and you’ve got multiple ways to win.
Now, crypto influencers are taking notice. An analyst from the YouTube channel 99Bitcoins, with over 723K subscribers, predicts that BTCBULL could surge 10x after its presale ends on June 30, 2025.
Tokens are selling for just $0.002545 apiece. You can buy BTCBULL using ETH, USDT, or a bank card via the project’s website.
Check out BTC Bull Token before it’s too late.
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