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The Bitcoin price fell 2% in the last 24 hours to trade at $67,431 as of 03:27 a.m. EST on trading volume that surged 44% to $37.8 billion.
This comes as Bitcoiners slam MicroStrategy co-founder Michael Saylor over comments that recommend Bitcoin custodianship through “too big to fail” financial institutions, a shift from his earlier stance in support of self-custody.
In an October 21 interview with financial markets reporter Madison Reidy, Saylor suggested that Bitcoiners have nothing to lose by transferring their BTC to institutions.
An investor who thinks that state-sanctioned Bitcoin seizure is possible is a “paranoid crypto anarchist,” he said.
Bitcoin Price Indicators Still Support A Bullish Rally
The Bitcoin price has been in a consolidation phase since August, as the bulls have continuously struggled to push BTC above the $65,400 resistance, according to data from GeckoTerminal. BTC recently broke out of the sideways pattern, with the token aiming for a continued rally above the upper boundary.
BTC now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the bullish stance.
Moreover, the Relative Strength Index is still trading slightly below the 70-overbought region, currently at level 60, which indicates that there may still be a position for the bulls to buy and get into the action before another leg up.
In a scenario where the price may continue soaring, the bulls may propel the price even higher to the long-term target of $80,000.
Meanwhile, if the bears gain control here, the Bitcoin price may plunge back to the lower support at $56,400.
As the Bitcoin price declines, investors looking for new opportunities might want to consider a new meme coin ICO called Flockerz (FLOCK), which has raised more than $971k and offers a stratospheric Annual Percentage Yield (APY) of 1,738%.
Flockerz Presale Hurtles Towards $1 Million Mark
Flockerz is building a project where the community is at the heart of decision-making, and even gets paid to participate via a Vote-to-Earn (V2E) system.
Flockerz aims to redefine decentralization through its community-driven governance model, Flocktopia. Unlike other projects, where a select few make decisions, FLOCKERZ opens its governance to all token holders.
The flock is flying high! We’ve officially crossed $300K! pic.twitter.com/MsLc5PeoyX
— Flockerz (@FlockerzToken) September 28, 2024
In Flocktopia, decisions about the project’s future are made collectively by “The Flock,” the community of $FLOCK holders. Every member has a say, making the platform a truly decentralized and inclusive environment.
Apart from V2E rewards, users can earn passively through the platform’s staking mechanism, with a sky-high annual yield of 1,738%.
To join the presale, you can buy $FLOCK on the official website here for $0.0058394 per token using BNB, ETH, or USDT. You can also make a purchase using your bank card.
Buy before a price hike in less than 3 days to secure the best deal.
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