Join Our Telegram channel to stay up to date on breaking news coverage
The Bitcoin price dropped 2% in the last 24 hours to trade at $106,057.88 as of 10:17 p.m. EST as some investors decrease their exposure in the crypto.
Despite the drop in the BTC price, pseudonymous trader and investor Mister Crypto remains bullish on Bitcoin and told his more than 144.2K followers on X that, “BItcoin will go parabolic.”
Bitcoin will go parabolic.
This time won’t be different! pic.twitter.com/0fEMMMclbD
— Mister Crypto (@misterrcrypto) May 29, 2025
Bitcoin Price Drops Out Of A Strong Bullish Channel
Daily chart for BTC/USDT (Source: TradingView)
The Bitcoin price dropped out of a long-term ascending price channel over the past few days, resulting in a plunge to below the support level at $106,980.03. Should the crypto market leader’s price continue to drop, it could end up testing the support at $101,689.06.
Thereafter, in an extreme case, BTC might even plunge to as low as $96,232.74 if bulls do not re-enter BTC’s charts before this happens.
However, the Bitcoin price reclaiming the $106,980.03 support within the next 48 hours could bring an end to the crypto’s drop. In this more bullish scenario, traders might start going long on Bitcoin, which could push its price to a new all-time high (ATH), possibly above $113,097.72.
Technicals Warn The Bitcoin Price Might Drop Some More
From a technical point of view, it seems bears might continue to push the Bitcoin price down in the next 48 hours, with both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) on the daily chart showing sellers have the upper hand in terms of trading power and momentum.
In the last few days, the MACD line broke below the MACD Signal line. This classic bearish technical flag is often seen as an indication that an asset has entered a negative trend, and was validated by the recent drop in the Bitcoin price. Now, the gap between the MACD and Signal lines continues to grow, which warns BTC’s bearish momentum is picking up steam.
Meanwhile, the RSI is also trading well below its Simple Moving Average (SMA) line on the daily chart. This suggests sellers have the upper hand over buyers. While the current reading above 50 is still bullish, the strong drop in RSI values from above 70 to the current point, coupled with the bearish momentum signaled by the MACD, suggests the RSI might fall below 50 soon.
With the Bitcoin price at risk of dropping some more in the short term, investors are buying up a new meme coin presale called BTC Bull Token (BTCBULL). According to influential YouTube channel 99Bitcoins, which has over 723K subscribers, BTCBULL could soar 10X after its launch.
A Meme Coin That Rewards Its Investors With Free Bitcoin As BTC Rises To New Heights
BTC Bull Token is a new meme coin that could also be the smartest Bitcoin play for investors looking to get much more cost-effective exposure to the leading crypto. Built on the conviction that the largest crypto by market cap will soar to $1 million, and possibly higher, BTCBULL rewards its investors with Bitcoin airdrops and token burns at certain price milestones.
The airdrops will start when BTC reaches $150K for the first time. Thereafter, every $50K increase in the Bitcoin price will trigger another airdrop. This essentially gives investors a way to profit from BTC’s gains without having to buy the crypto directly and expose themselves to Bitcoin’s volatility.
In addition to that, there will also be BTCBULL token burns at certain price milestones. These will begin when Bitcoin breaks $125K for the first time, and will continue with each new $25K milestone BTC achieves after that.
The project’s Bitcoin airdrops could result in high levels of demand for BTCBULL. Combined with the meme coin’s constantly-shrinking supply, the potential buy pressure from investors is amplified and could lead to the massive 10X rally predicted by 99Bitcoins.
BTCBULL Presale Charges Towards $7 Million
BTC Bull Token has already raised more than $6.5 million through its ongoing presale, signaling strong investor confidence in the project’s future. With the optimistic predictions by experts like 99Bitcoins, the chance to earn free BTC via airdrops, and the project’s meme coin appeal, it’s no wonder investors are flocking to the project’s ICO.
Interested investors can buy BTCBULL for $0.002535 apiece through the simple widget embedded on the project’s website using either crypto or bank card. Once bought, the tokens can also be staked for a 62% APY.
Anyone that wants to buy will want to act fast, because BTCBULL’s price will increase as its presale progresses. The next ICO price hike is scheduled for around 6 hours.
Check out BTCBULL on its official website.
Related Articles:
- Trump Tariffs Blocked By US Court — ”Buy Everything,” Says Arthur Hayes
- Trump CFTC Chair Pick Brian Quintenz Reveals Crypto Ties Amid Staff Exodus
- NFT Marketplace OpenSea Launches Its Upgraded OS2 Platform
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
