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The Bitcoin price rose by over 1% in the past 24 hours, trading at $106,188 as of 1:06 a.m. EST, with trading volume decreasing 39% to $30.5 billion.
That slight uptick in the BTC price comes as crypto entrepreneur Anthony Pompliano’s firm ProCap made its first Bitcoin purchase and bought 3,724 BTC tokens worth approximately $386 million.
The firm purchased at a time-weighted average price of $103,785 per BTC, and its holdings are now worth just shy of $400 million at current market prices, as the Bitcoin price has gained since the buy.
With growing institutional interest, can Bitcoin’s price still skyrocket?
Bitcoin Price Sets Sights On $112K And Beyond
The BTC price is displaying a rounded bottom pattern that began forming around early 2025 and completed in mid-June.
This pattern often signals a long-term trend reversal or continuation, and in this case, it’s playing out as a bullish continuation.
The breakout above the neckline, at around $101,000, has been followed by steady upward momentum, with the Bitcoin price now sitting at around $106,188, as GeckoTerminal data shows.
The breakout was supported by a brief consolidation and retest of the neckline zone (highlighted in green), providing further confirmation of the move’s strength.
Meanwhile, the 50 Simple Moving Average (SMA) on the 3-day chart (currently at $94,679) is well below the current price of BTC and upward-sloping, confirming mid-term bullish momentum. The 200 SMA at $72,274 reinforces the long-term uptrend.
Fibonacci retracement levels show that the 0.236 level ($101,311) has provided solid support, aligning closely with the breakout point.
Moreover, the Relative Strength Index (RSI) is at 58.67, indicating a bullish trend but not yet overbought, suggesting there’s still potential for further upward movement before a major correction.
BTC Price Prediction
As firms sustain their purchases, the Bitcoin price could still soar.
BTC is technically positioned for a move toward the $112,000 high. A breakout beyond that could open the path to the Fibonacci extension level near $124,280.
If bulls lose steam, the immediate downside support lies near $101,000, with stronger support at the 50 SMA around $94,600.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give token holders free BTC.
Jacob Bury, a prominent YouTuber with over 56.8k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Closes On $7.5 Million Milestone – 5 Days Left To Buy
BTC Bull Token provides a smart way to accumulate Bitcoin while also aiming for capital gains through a potential BTCBULL price rally after its exchange listing.
BTCBULL holders receive free BTC each time Bitcoin hits major price milestones. When Bitcoin reaches $150,000 for the first time, the project will reward holders with BTC.
Every new $50,000 milestone BTC achieves will result in more rewards. All investors must hold the BTCBULL tokens to become eligible for the airdrops, with rewards weighted based on the amount of BTCBULL they hold.
There will also be a massive BTCBULL airdrop for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
Last chance to buy BTCBULL before launch! 🐂🧨
The countdown ends on June 30th. ⌛
Here’s what’s coming:
🔥 BTCBULL token burns
🪂 BTC airdrops at price milestones
🎁 BTCBULL airdrop when Bitcoin hits $250KJoin the herd: https://t.co/FQZXEzFwWu pic.twitter.com/aeUmLJcSOC
— BTCBULL_TOKEN (@BTCBULL_TOKEN) June 2, 2025
Beyond the Bitcoin rewards, the project also incorporates token burns that kick in when the Bitcoin price reaches $125,000 for the first time and repeat for every new $50,000 milestone thereafter.
BTCBULL token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 55% annual percentage yield (APY).
BTC Bull Token’s fundraising campaign is accelerating rapidly, with investors having pumped $7.37 million into the ICO so far.
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL tokens for $0.00258 each using BNB, ETH, USDT, or a bank card.
Buy before the presale ends in about 5 days.
Visit the BTC Bull Token website.
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