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The Bitcoin price dropped 2% in the last 24 hours to trade at $96,117 as of 02:36 a.m. EST on trading volume that skyrocketed 113% to $154 billion.
This comes as MicroStrategy buys the dip, purchasing an additional 21,550 BTC for $2.1 billion, bringing its total to 423,650 BTC, valued at $42 billion.
As a major player in the cryptocurrency market, it now holds over 2% of all Bitcoin.
Bitcoin Price Gearing Up Towards A Bullish Trend Reversal
The Bitcoin price is in a strong uptrend, as evidenced by the series of higher highs and higher lows since the breakout from the accumulation zone. The price remained range-bound within the purple box (approximately $60,000-$70,000) before breaking out.
Once above $70,000, strong bullish momentum drove the price up to around $100,000, according to data from GeckoTerminal.
Meanwhile, the price of Bitcoin remains well above both the 50-day and 200-day Simple Moving Averages (SMAs), which is an indication that the Bitcoin price is still bound for a bullish rally.
The Relative Strength Index (RSI) is at 55.46, indicating neutral to slightly bullish conditions. There is no overbought signal, but the momentum has cooled off compared to the peak of the rally.
The Average Directional Index (ADX) is at 42.10, indicating a strong trend. This value supports the continuation of the current trend but suggests the price could consolidate or pull back slightly as the trend strength stabilizes.
The overall trend remains bullish, and even if a pullback occurs to the $85,000–$90,000 range, it may be a buying opportunity for trend-following traders. To sustain bullish momentum, the price must break and hold above $100,000 with increasing volume, as the bulls target $105,000.
If the price breaks below the lower support of the rising channel, it may test the next support levels at around $90,000 (psychological support) or $85,000 (50-day SMA).
As the Bitcoin price aims for a breakout, investors are piling into the presale of Best Wallet ($BEST), which has already raised more than $3.1 million.
According to ClayBro, a popular crypto analyst on YouTube with over 132K subscribers, it ”Could Be The Best Crypto Wallet Of 2025.”
Best Wallet Heads For $4 Million In Blockbuster Presale
Best Wallet is a Web3 crypto wallet that offers advanced features and an intuitive interface, setting itself apart from traditional wallets like MetaMask. It allows users to access exclusive tools like “Upcoming Tokens” for presale participation, including its own native token, $BEST.
Upcoming Tokens is a game-changing tool that could give investors a valuable edge in the crypto space. By allowing them to get in on potentially high-value investments before they hit the mainstream, it positions these investors ahead of the curve in crypto’s fast-paced, ever-evolving market.
No more missing out on early-stage #crypto projects! 💸
With Best Wallet’s Upcoming Tokens feature, you can easily browse, learn, and buy presale tokens directly from the app!
Download now! 👉 https://t.co/he5kzra7TY pic.twitter.com/ZcNZ1b6Up1
— Best Wallet (@BestWalletHQ) October 26, 2024
Tokens like Catslap ($SLAP), which was featured on the app, has since soared over 5,500% in about 19 days after its launch, cementing Best Wallet’s reputation as a go-to platform for uncovering hidden crypto gems.
The $BEST token is the governance token of Best Wallet’s expanding ecosystem, which includes the wallet, Best DEX, and the upcoming Best Card.
You can stake the newly purchased $BEST tokens within the project’s staking protocol, which currently offers a massive 909% annual yield to help grow your holdings quickly.
$BEST is priced at $0.02305 right now. Buy before a price hike in just over 1 day for the best deal.
Join the presale at the official BEST Token website here.
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