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The Bitcoin price dropped by a fraction of a percent in the last 24 hours to trade at $67,403 as of 00:37 a.m. EST on trading volume that rose 15% to $33 billion.
This comes as a Bitcoin address that has remained dormant for over five years became active, transferring a massive 8,000 BTC, worth approximately $535 million, to the Binance Exchange.
The BTC wallet was last active in 2018 when it received 8,000 BTC through six separate transactions on December 5. The transactions were carried out when BTC was priced at around $3,810 per coin.
With BTC rising over the years, the holder’s initial investment of $30.4 million has skyrocketed to roughly $535 million.
The transfer has elicited some speculation in the crypto community, ranging from profit-taking, to signifying a possible impending bear market.
However, the 1-day chart shows that BTC could be gearing up for a bullish rally, with the token trading within the symmetrical triangle pattern and well above the $60,737 support zone, data from GeckoTerminal shows.
Bitcoin Price Set For A Bullish Rally Over The Symmetrical Triangle
The Bitcoin price still trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), which is an indication that the bulls are still maintaining the token on a bullish stance.
In the last week, Bitcoin has been down 5%, which coincides with the Relative Strength Index (RSI) trading towards the 30-oversold levels, currently at 47.
The general Bitcoin price analysis indicates that the asset is currently on a slight retrace, but still trades within the symmetrical triangle, which indicates that the bulls could push the token over the upper boundary.
Major indicators also show that BTC could be gearing up on an upward trajectory. The RSI opens up positions for the bulls to stage a buy-back campaign, which could propel the price above. Currently, BTC bulls are targeting a new ATH at $90,000 in the long term.
Bitcoin Price Might Retrace
However, if the bears exert more pressure at this level, the Bitcoin price could retrace further below the lower boundary of the triangle. In such a scenario, the bulls could retreat to the $56,047 support level, which coincides with the 200-day SMA.
Meanwhile, as the Bitcoin bulls search for more signals to buy, other investors are piling into $99BTC, an ICO that’s already raised more than $2.1 million.
99Bitcoins Presale Surges Past $2.1 Million In Funding – Best Alternative To Buy Now?
The 99Bitcoins (99BTC) platform has been a major pillar of crypto education, addressing the need with a comprehensive library of resources and a groundbreaking Learn-to-Earn (L2E) model. It’s well positioned to meet the exploding demand for crypto education.
The platform has over 2 million registered users, with more than 700,000 subscribers on its YouTube channel. With its 99BTC ICO, the project is set to gamify crypto education by allowing users to complete lessons and tackle challenges to earn higher rankings and rewards through $99BTC tokens.
What is Spatial Computing? Discover how #Blockchain is transforming AR/VR, making immersive digital worlds more interactive and secure.
Dive deeper: https://t.co/2hlZYRFHBv#99BTC #SpatialComputing #Web3
— 99Bitcoins (@99BitcoinsHQ) April 8, 2024
Moreover, 99Bitcoins integrates with BRC-20, which makes it easy for developers to create dApps on the Bitcoin network.
Introducing $99BTC on BRC-20! 🎓
Since 2013, #99Bitcoins has been the go-to resource for learning about #Cryptocurrency.
We're launching a platform that enables the building of #dApps on top of the #Bitcoin network!💡#LearnToEarn rewards users on the Bitcoin blockchain.🙌
— 99Bitcoins (@99BitcoinsHQ) April 30, 2024
Buy And Stake $99BTC, 783% Annual Rewards
Apart from its L2E earning model, token holders can also stake $99BTC for an annual percentage yield (APY) of 783%.
According to Jacob Bury, a popular crypto analyst on YouTube, 99Bitcoins has the potential to surge 10X after launch.
You can buy $99BTC tokens for $0.00109 each. With a price hike coming in about 6 days, buy soon to lock in the best deal.
To join the presale, buy $99BTC from the official website here using ETH, USDT, or a bank card.
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