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The Bitcoin price tumbled 0.5% in the last 24 hours to trade for $66,363 as of 02:30 a.m. EST on trading volume that plunged 26%.
It comes amid ongoing Mt. Gox repayment woes as the defunct crypto exchange moved another 47,229 BTC, worth over $3 billion, to three unknown wallets.
This is after it moved $3.89 billion worth of BTC to Bitstamp, Kraken, Bitbank, and SBI VC Trade since July 5 as part of a repayment scheme.
Mt. Gox moved 47,229 $BTC($3.13B) to 3 unknown wallets again in the past 3 hours!#MtGox has moved 61,559 $BTC($3.89B) to #Bitstamp, #Kraken, #Bitbank, and SBI VC Trade for repayment since July 5.https://t.co/f2q66eQNuk pic.twitter.com/3G1tp47rav
— Lookonchain (@lookonchain) July 31, 2024
Meanwhile, crypto markets are also keeping an eye on the Federal Reserve. This is ahead of Fed Chair Jerome Powell’s press conference at 2.30pm ET after the close of the Federal Open Market Committee (FOMC) meeting.
Tomorrow at 2:30 p.m. ET: Chair Powell hosts live #FOMC press conference: https://t.co/WJAT3hR1Io pic.twitter.com/r3A3OCNjPa
— Federal Reserve (@federalreserve) July 30, 2024
Crypto Rover, a popular trader, highlighted that three of the last four FOMC meetings marked bottoms for Bitcoin.
Tomorrow we will have another FOMC Meeting.
From the last 4 FOMC Meetings, 3 marked the bottom for #Bitcoin
Will history repeat? pic.twitter.com/chrsG0bQzd
— Crypto Rover (@rovercrc) July 30, 2024
Data shows a 4.1% chance of a pivot and a 95.9% chance that the rate stays the same.
1 day before the FOMC decision:
👉 4.1% chance for a PIVOT
👉 95.9% chance rate stays the same pic.twitter.com/2312lOTeRa— Satoshi Flipper (@SatoshiFlipper) July 30, 2024
Bitcoin Price Prediction
The Bitcoin price is trading with a bullish bias, holding steady within an ascending parallel channel. If the confluence between the 38.2% Fibonacci retracement level of $65,772 and the lower boundary of the channel holds as a support level, BTC could push north.
A flip of the $68,746 resistance level into a support floor would pave the way for further upside. A break and close above it would encourage more buy orders, potentially sending the pioneer cryptocurrency to the range high of $73,553. In a highly bullish case, the gains could extrapolate towards a new peak.
The outlook of the Relative Strength Index (RSI), which defends above the mean level of 50, shows that the bulls still have control. This could push the Bitcoin price further north. The Moving Average Convergence Divergence reinforces this stance, holding in positive territory and above the signal line.
GeckoTerminal: BTC/USD 1-day chart
Conversely, a closer look at the MACD shows a looming sell signal, which would be executed if this indicated crosses below the signal line. The MACD histograms are also flashing red, suggesting budding bearish sentiment in the BTC market.
If the $65,772 support level breaks, the Bitcoin price could extend the fall. In such a directional bias, only a break and close below $63,369 would spook investors. In a dire case where the altcoin slides lower, a candlestick close below 60,965 would trigger panic selling.
For the bullish thesis to be invalidated, the bears must bring the Bitcoin price below $53,185, which was last tested on July 5.
Meanwhile, Bitcoin believers are also buying into 99Bitcoins (99BTC), which has amassed over $2.5 million in funding. It’s now offering investors a last chance to buy with less than 6 days left in its presale.
Jacob Bury, a prominent crypto YouTuber, believes that 99BTC has the potential to turn $1K into $10K after its launch.
Promising Alternative To Bitcoin
99Bitcoins has been a sensation as a crypto educational platform, with over 705,000 subscribers on its YouTube channel and more than 2 million people registered for the website’s courses.
With its ICO launch, 99 Bitcoins introduces a Learn-to-Earn (L2E) model that incentivizes its students to learn about cryptocurrency.
Since 2014, $99BTC has been at the forefront of #Crypto education.💡
🧠 Experienced Guidance: Decades of combined knowledge.
⚡ Wide Range: Covers multiple #Cryptocurrencies.
📖 #LearnToEarn: Reap rewards while you learn!
Get started: https://t.co/NXD7DAamqr#Bitcoin $BTC pic.twitter.com/lJjLgkgVI2
— 99Bitcoins (@99BitcoinsHQ) May 5, 2024
The platform aims to enhance the learning experience by gamifying Bitcoin education. This is where users complete challenges and lessons, earning them higher rankings and $99BTC as rewards.
Users on the platform can also earn passively by staking $99BTC, which offers an impressive 671% annual percentage yield (APY).
Short on time? Simply stake your $99BTC tokens on our website and earn passive rewards effortlessly!
Join now! 👉 https://t.co/nA4Lw89WA0#99Bitcoins #Crypto #Presale #Alts pic.twitter.com/av0mkMvIbR
— 99Bitcoins (@99BitcoinsHQ) April 19, 2024
You can buy 99BTC now for $0.00116. With the presale closing in less than 6 days, buy soon before it’s too late.
Visit and buy 99Bitcoins here.
Also Read:
- 99Bitcoins Price Prediction – $99BTC Profit Potential in 2024
- 99Bitcoins Launches New Learn-to-Earn Airdrop Presale – TodayTrader Video Review
- Best Penny Crypto Investments: Top Picks for Explosive Growth in 2024!
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