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The Bitcoin price edged down a fraction of a percentage in the last 24 hours to trade at $98,101 as of 11:22 p.m. EST on trading volume that plunged 6% to $63.9 billion.
This comes as Ohio Senator Sandra O’Brien introduced a second bill to allow the state to create a Bitcoin reserve. The Ohio Senate Bill 57 authorizes the state’s treasurer to invest state funds solely into BTC as a means to create an “Ohio Bitcoin Reserve Fund.”
Bitcoin Price On A Sustained Consolidation
The BTC price chart analysis on the 1-day timeframe shows that the token has been trading within a defined range, with a clear resistance level around $107,000 and a support zone around the $90,000 level.
The recent Bitcoin price spike above $108,000 was quickly rejected, pulling the price back into the range, according to data from GeckoTerminal. This rejection suggests strong selling pressure at the resistance level.
BTC is currently hovering near the 50-day Simple Moving Average (SMA), acting as a dynamic resistance. A break above this level could signal renewed bullish momentum. The 200-day SMA is a key support zone, and any major breakdown could see the price of BTC retest at this level.
Meanwhile, the Relative Strength Index (RSI) is at 45.47, which is in the neutral-to-bearish range. This suggests that WBTC has room to move in either direction, but it’s currently lacking strong momentum.
The Stochastic RSI is at 20.34 (blue) and 16.40 (orange), indicating oversold conditions. This suggests a potential short-term bounce, but confirmation is needed before assuming a trend reversal.
BTC Price Prediction
The Bitcoin price is consolidating in a well-defined range, with $107,000 acting as resistance and $90,000 as support. If BTC breaks above $107,000, it could enter a new uptrend toward $115,000-$120,000.
Conversely, if the price of Bitcoin falls below the $90,000 support, it could signal a deeper retracement toward the 200-day SMA at $78,000. A breakdown below the 200-day MA would confirm a bearish trend reversal.
Meanwhile, investors are rushing to buy a new AI agent crypto called MIND of Pepe (MIND), which 99Bitcoins, a popular crypto channel on YouTube with over 724K subscribers, says has the potential to soar 20X after its launch.
MIND Of Pepe Amasses Over $5.1 Million In Parabolic Presale
MIND of Pepe is a self-evolving artificial intelligence (AI) agent that has captured the attention of the crypto community as it soars toward $6 million in early-stage funding in a little more than three weeks.
Five Million. $MIND pic.twitter.com/1KxS5POtd2
— MIND of Pepe (@MINDofPepe) February 4, 2025
It is a groundbreaking project that combines advanced AI with blockchain technology to redefine how traders navigate the complex cryptocurrency market. Built on the Ethereum blockchain, the project’s AI agent is capable of learning, analyzing, and interacting autonomously online.
One standout feature is its ability to detect emerging trends in the Web3 space—especially on social media platforms like ‘Crypto Twitter’—before they gain widespread recognition.
MIND of Pepe’s AI agent goes beyond passive observation; it also actively interacts with key individuals, platforms, and communities shaping the market, delivering its insights directly to MIND holders through token-gated groups.
🚨 $MIND is Now Live in Upcoming Tokens! 🚨@MINDofPepe leverages the power of AI to help users identify new trends and exciting opportunities. The self-evolving AI agent interacts across platforms to deliver real-time updates.
Built on Ethereum, $MIND offers holders exclusive… pic.twitter.com/uyXFpYka5p
— Best Wallet (@BestWalletHQ) January 14, 2025
MIND holders also have the opportunity to stake their tokens for a stratospheric 445% annual percentage yield (APY).
Currently, MIND tokens are priced at $0.0032662 and can be bought with either crypto or bank cards via the easy-to-use widget embedded on the project’s website.
Interested investors should buy MIND before a price hike in less than 2 days.
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