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The Bitcoin price surged 3% in the last 24 hours to trade at $101,495 as of 02:46 a.m. EST on trading volume that surged 75% to $50.6 billion.
This comes as MicroStrategy, the largest corporate holder of Bitcoin, made its first significant move in 2025 by purchasing 1,070 BTC for approximately $101 million.
This purchase comes amid a surge in the Bitcoin price and the firm now holds a total of 447,470 BTC.
🚨 Breaking News: MicroStrategy Adds 1,070 BTC
🇺🇸 Michael Saylor's #MicroStrategy just acquired 1,070 Bitcoin for a cool $101M, bringing their total holdings to an astonishing 447,470 BTC 🤯
🔹 Cost basis: $27.96B
🔹 Average price: $62,473/BTC
🔹 That’s 2.13% of Bitcoin’s… pic.twitter.com/pScfuP4NmM— Crypto Patel (@CryptoPatel) January 6, 2025
This surge also comes just three days after Jim Cramer, the host of Mad Money, suggested $90,000 as the next target price for Bitcoin buyers in a CNBC interview.
Bitcoin Aims For A Sustained Breakout
The BTC price chart on a daily timeframe shows a strong upward trend in recent months. Following a breakout above the 50-day Simple Moving Average (SMA) in early November 2024, the Bitcoin price has consistently made higher highs and higher lows, indicative of bullish momentum.
Currently, the price of BTC is consolidating around the $101,000 level after breaking above the key horizontal resistance zone at $92,180.
The purple box below (around $90,000) represents a strong support zone, where buyers have previously stepped in to drive prices higher, according to GeckoTerminal data.
The Bitcoin price is also trading well above both the 50-day SMA ($97,395) and the 200-day SMA ($72,556), signaling an established bullish trend. This golden cross of the shorter SMA above the longer SMA, around $63,744, further supports the bullish narrative.
Meanwhile, the Relative Strength Index (RSI) is currently at 61.61, which is in the bullish range but below the overbought threshold of 70.
This suggests that while the asset has room to continue rising, it is not in an overextended zone, leaving the possibility for more upward momentum.
The Moving Average Convergence Divergence (MACD) line (790) is well above the signal line (592), confirming bullish momentum. Additionally, the histogram bars are in positive territory, which suggests increasing buying pressure.
BTC Price Prediction
Given the clear breakout above the $97,000 resistance, supported by strong indicators like the MACD and RSI, Bitcoin is likely to test the next major psychological resistance at $110,000 in the short term.
The upward momentum suggests a bullish continuation as long as the Bitcoin price remains above the $97,000 support zone and the 50-day SMA.
If buying pressure intensifies and RSI approaches overbought levels, the price could surpass $110,000 and aim for the $120,000 region in the medium term.
If a pullback occurs, the $93,000-$90,000 zone (purple area) will act as a robust support level where buyers are expected to step in.
Meanwhile, investors are also rushing into the Best Wallet ($BEST) presale, which has already raised over $6.6 million. Crypto Gains, a YouTuber with more than 144K subscribers, says $BEST can easily 10X.
Best Wallet Presale Surges Toward $7 Million
Best Wallet is a utility-based project that has captured significant attention in the Web3 space. The project’s vision extends beyond a multi-chain wallet, with plans for a crypto-enabled bank card and an integrated decentralized exchange (DEX). These innovative features strengthen the project’s long-term utility.
Join Best Wallet and gain all the tools you need to stay ahead. 💎
With features like exclusive access to Upcoming Tokens and rewards for early adopters, it’s no surprise we’re the fastest-growing crypto wallet.
Download now 📲 https://t.co/he5kzra7TY pic.twitter.com/xf2pY03CZw
— Best Wallet (@BestWalletHQ) December 16, 2024
One of the project’s most popular features is its “Upcoming Tokens” section. This flags to users the most promising new cryptocurrency presales, enabling traders to read whitepapers, buy the tokens, and then track updates. It already has a stellar track record.
💎 What can holding $BEST unlock for you? 💎$BEST isn’t just a token—it’s your key to maximising everything Best Wallet has to offer:
✔️ Get early access to new projects
✔️ Reduced transaction fees
✔️ Enjoy higher staking rewards
✔️ Exclusive token airdropsDownload Now 📲… pic.twitter.com/JpnCMgWQjc
— Best Wallet (@BestWalletHQ) December 23, 2024
In addition, the wallet enables users to stake their BEST tokens for a huge 300% annual return.
With over 100,000 monthly users and strong security, Best Wallet continues to grow its credibility.
You can get into the project early by buying $BEST Token today for just $0.0235. Interested investors should secure tokens before the next price increase in slightly less than 19 hours.
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