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The Bitcoin price edged up a fraction of a percentage in the past 24 hours to trade at $105,890 as of 12:32 a.m. EST, with trading volume surging 7% to $17.9 billion.
The slight increase in the BTC price comes as Strategy co-founder Michael Saylor posted the SaylorTracker chart on X, which signals an impending Bitcoin acquisition by his company, Strategy.
A purchase could mark the eighth consecutive week of purchases by the company.
Send more Orange pic.twitter.com/QaLJWkLrVN
— Michael Saylor (@saylor) June 8, 2025
The firm has already purchased a total of 580,955 BTC.
Saylor’s X post follows Strategy’s announcement of a $1 billion stock offering, four times its initially planned $250 million raise.
The company stated that the proceeds will be used to fund additional Bitcoin acquisitions and support general corporate expenses.
Bitcoin Price Trading Within Support, Aims For A Rally
The BTC price is exhibiting a strong bullish trend on the 3-day chart.
After a long period of consolidation throughout late 2024 and early 2025, the Bitcoin price formed a rounded bottom pattern, a classic bullish continuation signal.
This pattern culminated in a breakout above the $101,736 resistance level (the 0.236 Fibonacci retracement from the local high), as GeckoTerminal data shows.
Since the breakout, BTC has continued its upward trajectory, recently reaching $105,890.
Meanwhile, the 50 Simple Moving Average (SMA) is at $94,454, and the 200 SMA is at $70,498, both sloping upward. The Bitcoin price is significantly above both SMAs as well, reinforcing the bullish trend and long-term strength in the market.
The Relative Strength Index (RSI) is at 61.16, which is in the neutral-to-bullish zone. This level indicates there is still room for upward movement before BTC becomes overbought.
Moreover, the Moving Average Convergence Divergence (MACD) shows a bullish crossover with the blue MACD line (4,344.79) above the orange signal line (4,151.23), and the histogram is positive, which indicates that BTC is under positive momentum.
BTC appears poised to continue its upward movement toward the $112,329 zone, which corresponds with the previous high, a 6.7% surge from the current level.
However, in case the price of Bitcoin goes through a pullback, the $101,736 level (23.6% Fibonacci) is expected to act as immediate support, followed by stronger support at the 50 SMA near $94,454 and the 0.382 Fibonacci level at $95,182.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give token holders free BTC.
Jacob Bury, a prominent YouTuber with over 56.7k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Closing On The $7 Million Mark – 21 Days Left To Buy
With growing momentum through institutional investment, regulatory clarity, and mainstream adoption, Bitcoin’s journey to $250K, and ultimately to $1 million, is no longer a fringe theory but a widespread expectation.
BTC Bull Token is built to ride that growth wave. It provides a way for those who don’t have $105K to splash on an entire Bitcoin to signal their bullish expectation still.
When Bitcoin reaches key price milestones for the first time, such as $150K and $200K, BTCBULL token holders will receive real BTC airdrop rewards in their wallets.
If Bitcoin reaches $250K, a massive BTCBULL airdrop will occur, with the project allocating 10% of the total token supply for this occasion.
Moreover, when BTC reaches $125K, $175K, and $225K, the team will burn up to 15% of the total token supply to induce scarcity, a measure that is often known to help increase a token’s price.
At $125K BTC, BTCBULL will trigger its first token burn. 🔥
Less supply. Same hype. The charge is on! 🐂 pic.twitter.com/O218IzuwsE
— BTCBULL_TOKEN (@BTCBULL_TOKEN) May 27, 2025
So far, investors have invested over $6.9 million in the project during its early presale stage.
Investors can also earn passive income through the project’s staking protocol, which offers a 58% annual yield.
You can purchase tokens now for $0.002555 using BNB, ETH, USDT, or bank card.
Interested investors will want to buy before the presale ends in about 21 days.
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