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The Bitcoin price dropped 2% in the last 24 hours to trade at $62.7k as of 4.45 a.m. EST on trading volume that surged 43% to $28.08 billion.
Despite the current price drop, however, Bitcoin has seen some positive developments recently, especially when it comes to Bitcoin spot ETFs. According to reports, spot Bitcoin exchange-traded funds in the US have seen increased investor confidence, as the cumulative net inflows hit a new ATH.
Farside Investors’ data shows that Bitcoin ETFs saw a net inflow of $202.6 million yesterday, August 26. This puts the total net inflows in this investment product above the $18 billion mark. Commenting on the situation, Bitget Wallet’s COO, Alvin Kan, speculated that the investors are likely turning to more stable assets, and the surge in Bitcoin spot ETF investments reflects their growing confidence in BTC.
As for Bitcoin itself, the coin saw a major price surge on August 23, which allowed it to breach the resistance at $61k and climb up to $64k. Since then, the coin traded sideways until it started seeing a slight drop in the last 24 hours.
Bitcoin Price Prediction
Bitcoin’s price has been correcting for over 24 hours now, but compared to its surge on August 23, the correction has not been nearly as sharp. This also suggests that some traders have decided to take profit after the coin hit $64k, but this is not panic-selling by the holders looking to rapidly get rid of their BTC.
Furthermore, there is potential for BTC to bounce back up in the near future. Its Bollinger bands have narrowed recently, which is a bearish signal, and its price is sticking to the lower band, which confirms that there is still some bearish sentiment in the market.
However, the coin’s Relative Strength Index (RSI) value has been fluctuating between the neutral area and the oversold zone, which does hint at a possible rally in the near future. With a strong positive catalyst, Bitcoin could easily make up for the losses seen in the last day or so, and return to the resistance at $64k.
It might even break it and surge further up, especially since some experts recently speculated thatthe coin could soon shoot up to $68k. Its current RSI value certainly shows that there is plenty of room left for growth, so it is not out of the question for BTC to see a strong surge in days to come. Still, its recent fluctuations show that this is a risky period for the coin, so traders intending to buy in the near future should be extremely cautious.
Promising Alternatives to Bitcoin
With Bitcoin correcting and searching for its new bottom, many among investors are looking into alternatives that do not carry a lot of risk. One option available today can be found in Solana’s ecosystem, in the form of its most promising new GameFi token, Mega Dice (DICE).
Mega Dice is a new, upcoming cryptocurrency of an established and rather popular crypto casino that is also known as Mega Dice. The casino has been allowing its customers to place wagers using cryptocurrencies for years, and now, it is preparing to launch its own native token. With over 50,000 registered users, more than 10k monthly active users, and over 4,000 games and sports to bet on, this is one of the most popular gaming platforms around today.
What’s more, those who join the DICE presale and become Mega Dice holders will gain access to some unique benefits. They will be entitled to daily rewards that change depending on the casino’s performance, access to limited edition NFTs, early bird bonuses if they join during the ICO, and even high referral rewards.
Refer & Earn with $DICE! 🚀💰
Exciting news! You can still refer users to the Mega Dice presale and earn a generous 10% commission on all referral purchases. Here's a simple guide on how to get started:
1. Visit: https://t.co/E5WFsXQhfQ.
2. Connect: Connect your wallet.
3.… pic.twitter.com/6W2nDy85mE— Mega Dice Casino (@megadice) August 26, 2024
The DICE ICO has been going on for some time now, and it is currently on its way to its second million. So far, it raised $1.75 million, and is only $250k away from the next big milestone. As for its DICE token, it currently sells for only $0.110529, and you can buy it with SOL, ETH, or BNB.
The project is also in the final stages of its $2.25 million airdrop, which was split into three seasons. Seasons 1 and 2 have already ended, but season 3 is still ongoing, and there is still a chance for you to join and win the money. All you need to do is wager $5k or more in a 21-day period. A popular crypto YouTuber TodayTrader explained everything in his video that explains how to qualify for the DICE airdrop.
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