Bitcoin Price Slips Slightly As This Layer-2 ICO Goes Parabolic

Bitcoin Price Prediction As Michigan Pension Fund Buys More ARK BTC ETF Shares And This Layer-2 Presale Goes Parabolic

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Updated: 06 August 2025

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The Bitcoin price dropped a fraction of a percentage in the last 24 hours to trade at $113,450.49 as of 11:34 p.m. EST as some investors decrease their exposure to the crypto.

That slight decrease in the BTC price comes even as Michigan’s state pension fund upped its holdings in the ARK 21Shares (ARKB) ETF (exchange-traded fund).

According to regulatory filings with the US Securities and Exchange Commission (SEC), the pension fund increased the number of shares it holds by 110,000, taking its total shares to 300,000 ARKB, worth $10.737 million.

Bitcoin Price Slips Below Key Support And Struggles To Reclaim It

Daily chart for WBTC/USD (Source: GeckoTerminal)

The Bitcoin price slipped below the support level at $115,381 at the start of the month, and has struggled to recover back above this point ever since, data from GeckoTerminal shows. As a result, the crypto market leader is now oscillating between this barrier and the support level at $110,490.

There was an attempt to breach the $115,381 level in the last 24 hours, but sellers maintained their strength and defended the mark. This has been followed by a pullback towards the $110,490 support. If the Bitcoin price breaks below this point, it could slide to as low as $104,901 in the short term if the bearish pressure persists.

That bearish thesis might not become a reality, however, if traders identify the current Bitcoin price as a buy opportunity. In this more optimistic scenario, BTC could have the backing needed to finally break through the recent support-turned-resistance level at $115,381. In doing so, BTC might then clear the room needed to rise to as high as $120,272.

Bitcoin Price Still At The Mercy Of Sellers

Before that can happen, traders will likely wait for technical indicators to turn more bullish. Currently, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) warn sellers still have an upper hand over buyers.

With the MACD line still positioned below the MACD Signal line, it seems momentum remains in favor of bears. This might change soon, with the MACD Histogram bars starting to level off. The slightest uptick in this indicator’s value could be seen as an early sign of a bullish trend reversal, which will likely prompt traders to enter into long positions.

Buyers will first need to gain some more strength in order to sway momentum in their favor. At the moment, the RSI is below the neutral 50 mark, a classic bearish sign. This is after the indicator’s value declined throughout the last week. With the current downward slope of the RSI line, bulls will have a tough challenge ahead of them.

While traders wait for more bullish signs on BTC’s chart, investors continue to pile into the presale for Bitcoin Hyper (HYPER). According to crypto analyst and YouTuber Crypto Boy, who has over 61K subscribers, HYPER is an amazing project.

Bitcoin Will Soon Have Its Own Layer-2 Chain

Bitcoin has fallen behind in terms of scalability over the years when compared to faster and more cost-effective alternatives such as Ethereum and Solana. This is because developers have opted to leave Bitcoin’s core code relatively unchanged since its inception, likely out of respect for Satoshi Nakamoto.

While that may be the case, developers are still looking at ways to scale Bitcoin without overhauling its code. Enter Bitcoin Hyper.

The project is a BTC-focused layer-2 solution that integrates with the Solana Virtual Machine (SVM), which is the same engine that enables SOL’s lightning-fast speeds. The Bitcoin network will subsequently be able to process more transactions at any given time, increasing its scalability factor substantially.

Not only will Bitcoin Hyper scale the legacy Bitcoin network, it will also bring smart contract capabilities to the BTC ecosystem. When this happens, Bitcoin could get its very own application layer, and finally transition away from its reputation of just being a decentralized store of value.

Those applications could range from payments to decentralized exchanges and more. Users will also be able to seamlessly bridge between the Bitcoin base network and the BTC Hyper chain, which will host all of these apps.

HYPER ICO Goes Parabolic

HYPER is gaining momentum during its ongoing presale stage. Over $7.2 million has been pumped into the ICO so far, signaling strong investor confidence in the project’s future.

Interested investors can participate in the presale and purchase HYPER via the simple widget embedded on the project’s website. Selling for $0.01255, HYPER can be purchased with either ETH, SOL, USDC, USDT, BNB or bank card.

Investors will want to buy before the next ICO price hike in around 38 hours.

Check out HYPER.