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The Bitcoin price slid 1% in the last 24 hours to trade at $117,946.93 as of 10:45 p.m. EST as some investors decrease their exposure to the leading crypto.
Despite the recent drop in the BTC price, billionaire hedge fund manager Ray Dalio has recommended a 15% portfolio allocation into Bitcoin or gold. According to him, this will give the “best return-to-risk ratio” amid America’s crippling debt problem and currency devaluation.
🇺🇸 BILLIONAIRE AND LEGENDARY INVESTOR RAY DALIO JUST RECOMMENDED 15% ALLOCATION TO #BITCOIN
HERE WE GO!!! pic.twitter.com/AZ2gNArGOM
— Vivek Sen⚡️ (@Vivek4real_) July 28, 2025
Bitcoin Price Trades In A Sideways Channel
Daily chart for WBTC/USD (Source: GeckoTerminal)
The Bitcoin price has been trading in a consolidation pattern between $115,814.14 and $123,447.13 over the past 2 weeks, data from GeckoTerminal shows. This period of sideways trading could be the build up to a strong move.
If the crypto market leader breaks out towards the upside, the Bitcoin price might try to flip the resistance at $123,447.14 into support. Thereafter, BTC could then soar to as high as $130,733.16 in the short term.
On the other hand, impatient traders deciding to offload their holdings on the market might result in a drop below the nearest support level at $115,814.14. Thereafter, continued pressure from sellers could then lead to a plunge to as low as $106,793.33, which is the next key support level.
Technicals Suggest The Bitcoin Price Might Drop Below Support
Looking at technical indicators on the daily chart, a bearish scenario is more likely to play out in the short term. Traders will want to keep an eye on the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), which are both showing bearish signs.
That’s after the MACD line crossed below the MACD Signal line in the last few days, triggering a major bearish technical flag that indicates the Bitcoin price has entered a short-term bearish trend.
Meanwhile, RSI readings have fallen over the past few days as well. Traders usually see this as an indication of a decrease in buyer power.
Those technical warnings from the MACD and the RSI, coupled with the sideways channel, suggests some traders have already started cashing out. What’s more, the warnings come as the Bitcoin price nears the lower boundary of the sideways channel.
With bears slowly gaining control of the Bitcoin price, investors are turning to the presale for Bitcoin Hyper (HYPER). According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER is one of the best crypto ICOs to buy now.
Bringing Scalability To The Bitcoin Blockchain
As Dalio tells investors to allocate a percentage of their portfolios to Bitcoin, the BTC ecosystem and the projects it hosts are likely to gain. His recommendation comes after Bitcoin has proven itself as a decentralized store of value that is oftentimes compared to gold as an investment safe haven.
Despite the blockchain’s reputation in the market, there have been very few improvements to the network’s decentralized infrastructure over the years. This is where Bitcoin Hyper, a Bitcoin layer-2 scaling solution, comes in.
Built on top of the Solana Virtual Machine (SVM), the project will bring SOL speeds to the BTC ecosystem. It will also make it possible for the Bitcoin blockchain to host smart contracts, which could see Bitcoin gain its own application layer.
The entire system will also be powered by a decentralized Canonical Bridge, making bridging from the BTC Hyper chain to the Bitcoin base network a breeze.
Powering that layer will be Bitcoin Hyper’s HYPER token, which will act as a transaction medium and so much more for the new wave of decentralized applications. This is likely why 99Bitcoins and other experts predict parabolic gains for the crypto once it goes live.
Bitcoin Hyper Presale Heads For $6 Million
It did not take long for investors to buy in. So far, the project’s ongoing presale has raised over $5.6 million in early-stage funding, signaling strong investor confidence in the project’s future.
There’s still time left for investors to get in at this ground stage of the project. Tokens can be bought for $0.01245 apiece using either ETH, SOL, USDC, USDT, BNB or bank card via the easy-to-use widget embedded on the project’s website.
Once bought, tokens can also be staked for an attractive 183% APY.
Investors will want to hurry, because HYPER price will increase as its presale progresses. The next ICO price hike is in around 39 hours.
Visit the official Bitcoin Hyper website to learn more.
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