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The Bitcoin price edged down a fraction of a percentage in the past 24 hours, trading at $109,012 as of 3:27 a.m. EST, with trading volume rising 22% to $21.8 billion.
The BTC price has dropped below the $110,000 mark, as Arthur Hayes, the BitMEX co-founder, argued that liquidity conditions are tightening again.
Hayes expects a temporary cooling period in crypto markets, with President Donald Trump set to sign into law the “Big Beautiful Bill” on July 4th.
During this pause, he sees Bitcoin potentially retreating to $90,000 before setting the stage for a stronger recovery.
However, Hayes sees this price action as more of a reset than a reversal, which would likely help shake out short-term traders and build a more substantial base for the next move up.
BTC price is still up 3% in the last month and is still bearish. Can the Hayes prediction materialize?
Bitcoin Price Bullish, Set For A Move Towards A New ATH
The BTC price, since the beginning of the year, formed a rounded bottom pattern, typically a bullish reversal pattern, after hitting the $76,358 support on the 0.786 Fibonacci retracement level.
As the rounded bottom materialized, the Bitcoin price was able to reach its all-time high of around $112,083 in May.
However, the bulls were not able to sustain this trend, as BTC went on to consolidate between the $101,356 support and the ATH level, as data from GeckoTerminal shows.
Indicators have recently turned positive, which may suggest that the price of Bitcoin is set for a move above the $112,000 resistance.
Bitcoin price has continuously traded above both the 50 and 200 Simple Moving Averages (SMAs) on the 3-day chart, which is a confirmation of the bullish sentiment.
Meanwhile, the Relative Strength Index (RSI) has shown signs of renewed interest, as it moves towards the 70 zone, currently at 62.
If the bulls clear the $112,000 resistance and keep the pressure up, the price of Bitcoin may still soar, with the next target being the $124,355 level, which is a new ATH.
However, if the Hayes prediction plays out, the next key support level is on the 50 SMA at $95,249 and then the 0.5 Fib level at $89,357.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give token holders free BTC.
Jacob Crypto Bury, a prominent YouTuber with over 56.9k subscribers, says BTCBULL has the potential to soar 10X after its launch that is just 3 days away.
BTC Bull Token Presale Amasses Over $8 Million – 3 Days Left To Buy
The BTC Bull token is a new meme coin built around the strength and popularity of Bitcoin. Unlike most meme coins, it offers real rewards to investors.
Every time the price of Bitcoin hits a new milestone, the BTCBULL project will reward holders with BTC airdrops.
The first target to trigger a BTC airdrop is $150k, followed by additional ones for every new $50k milestone after that.
A huge BTCBULL Token airdrop also awaits the strongest hodlers when BTC hits $250k, weighted by the participant’s Community Sale purchase amount.
Beyond the Bitcoin rewards, the project also incorporates token burns that kick in when BTC reaches $125k, and repeat for every $50k increase in the Bitcoin price after that.
By reducing supply, the burns put upward pressure on the BTCBULL price.
Strap in. Claim info dropping soon. 🔥 pic.twitter.com/SK1x1ieV6e
— BTCBULL_TOKEN (@BTCBULL_TOKEN) June 27, 2025
BTCBULL holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 51% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull website to buy BTCBULL tokens for $0.002585 each using BNB, ETH, USDT, or a bank card.
If you would like to join investors who have already pumped more than $8.03 million into BTCBULL, you have just 3 days left before it lists on exchanges.
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