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The Bitcoin price edged down a fraction of a percentage in the past 24 hours, trading at $107,783 as of 3:45 a.m. EST, with trading volume rising 36% to $26 billion.
This small drop in the BTC price comes as US President Donald Trump’s linked Trump Media filed an S-1 form with the US Securities and Exchange Commission to launch a dual exchange-traded fund (ETF) for Bitcoin and Ether.
🇺🇸 PRESIDENT TRUMP'S TRUTH SOCIAL JUST OFFICIALLY FILED FOR #BITCOIN ETF WITH NYSE.
IT’S HAPPENING!!! pic.twitter.com/5Mrvumn5sw
— Vivek⚡️ (@Vivek4real_) June 24, 2025
The S-1 form proposes the issuance and trading of Truth Social Bitcoin and Ethereum ETF, sponsored by the asset management firm Yorkville America Digital.
Can this propel the BTC price further?
Bitcoin Price Poised For A Sustained Breakout From Consolidation Zone
The BTC price chart on the daily timeframe presents a strong bullish structure, characterized by a clear breakout from a rounded bottom pattern that formed between February and April 2025.
Following the breakout, the Bitcoin price entered a consolidation phase, hovering around the $101,000 to $110,000 range, as GeckoTerminal data shows.
This sideways movement served as a healthy breather after the strong uptrend, allowing the market to absorb gains and gather strength for the next move.
The price of BTC has now resumed upward movement, having cleared the recent resistance zone near $107,000.
Meanwhile, the 50-day Simple Moving Average (SMA) is currently around $106,501, and the 200-day SMA is at $96,356. A golden cross occurred in early June, where the 50-day SMA crossed above the 200-day SMA, a classic bullish indicator.
The Relative Strength Index (RSI) currently stands at 53.38, indicating a neutral zone. This shows there is still room for price appreciation before BTC becomes overbought (above 70 on the RSI scale).
Given the bullish continuation from the rounded bottom and the clean breakout above consolidation, BTC appears poised for further gains.
The technical target projected from the pattern’s depth points to a move towards $135,000, reflecting a potential 25.31% increase from the current price level.
In the event of bearish pressure from the bears at this level, the price of BTC could plunge back to the $96,356 level.
Meanwhile, investors are piling into a new BTC-themed meme coin called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER could soar 10X after launch.
Bitcoin Hyper Token Presale Zooms Past $2 Million – Next 10X Crypto?
Bitcoin Hyper aims to become BTC’s first full-fledged Layer-2 (L2) execution network, built from the ground up to surpass the Bitcoin blockchain’s performance limits.
Unlike previous sidechains and L2 solutions, Bitcoin Hyper will leverage the Solana Virtual Machine (SVM), which is known for its high speed and proven reliability.
The SVM’s parallel processing architecture will enable a theoretical throughput of over 60,000 transactions per second (TPS), significantly outpacing Bitcoin’s base layer and even Web2 payment networks.
The project also functions on a decentralized Canonical Bridge, which ensures seamless and secure transfers between Bitcoin’s base layer and BTC Hyper.
🚨 Bitcoin Hyper is now live in Best Wallet! 🚨@BTC_Hyper2 is building Bitcoin’s first Layer 2 focused on real scalability — enabling fast, cheap BTC transactions, meme coins, dApps, and more.
It’s secured by Bitcoin L1 and powered by Solana VM tech for high speed and massive… pic.twitter.com/5Ktj12RCR1
— Best Wallet (@BestWalletHQ) June 5, 2025
Investors are betting big on the idea, having pumped over $2.0 million into the project’s presale. Additionally, if you buy and stake now, you could unlock a 387% APY. However, this rate decreases as more people join, so timing is crucial.
Investors interested in participating in the presale can visit the official Bitcoin Hyper Token website to buy HYPER tokens for $0.012175 each using crypto or a bank card.
Buy before the next price increase in about 8 hours.
Visit the Bitcoin Hyper website.
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