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The Bitcoin price plummeted over 5% in the last 24 hours to trade at $75,975.62 as of 9:39 p.m. EST as investors sell their holdings in the crypto.
The drop in the BTC price comes after US President Donald Trump increased tariffs on China to 104%, escalating the trade war.
BREAKING: President Trump signs executive order effectively increasing tariffs on China to 104%
— The Spectator Index (@spectatorindex) April 9, 2025
Bitcoin Price Hovering Above A Crucial Support Level
Daily chart for BTC/USDT (Source: TradingView)
The Bitcoin price is hovering above a support level at $74,019.83. Should it drop below this technical safety net within the next 48 hours, the crypto market leader could be at risk of plunging to the subsequent support all the way down at $67,608.94.
However, traders identifying the current Bitcoin price as a buy opportunity might lead to a BTC rebound. In an alternative and more bullish scenario, the crypto could try to reclaim a position above the $78,139.24 mark.
Should the Bitcoin price close a daily candle above that level, BTC might have the foundation needed to rise to $84,612.60. Continued pressure from buyers could even result in the Bitcoin price rising to as high as $91,478.28.
Bears Could Push The Bitcoin Price Even Lower In Coming Days
Looking at technical indicators on BTC’s daily chart, it seems a bearish scenario is more likely to play out in the short-term. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bearish signs.
In the last couple of days, the MACD line has started to break away below the MACD Signal line. Traders might see the positioning of the MACD line below the MACD Signal line as an indication that BTC is in a negative trend. Additionally, the growing gap between the two technical indicators warns that BTC’s bearish momentum is growing stronger.
Sellers are also currently in control of the Bitcoin price, as suggested by the RSI indicator on the daily chart. This is after the RSI crossed below its Simple Moving Average (SMA) in the last few days.
Not only that, but the RSI line is currently sloped negatively. This could suggest that bears have no intention of easing their pressure on the Bitcoin price anytime soon.
As Bitcoin hovers above support, investors are buying a new meme coin called BTC Bull Token (BTCBULL).
99Bitcoins, an influential YouTube channel with over 725K subscribers, says BTCBULL has the potential to soar 10X after launch.
A Meme Coin Giving Investors Free Bitcoin
BTC Bull Token is a Bitcoin-themed meme coin that wants to support the largest crypto by market cap on its journey to $1 million per coin.
As BTC soars to new heights, the project will reward its token holders with Bitcoin airdrops and BTCBULL token burns at certain price milestones.
The next BTC airdrop will be when the Bitcoin price hits $150K. Thereafter, every $50K increase in the crypto king’s price will lead to BTC being airdropped to BTCBULL token holders.
Meanwhile, BTCBULL’s supply will also be reduced as Bitcoin rises through the token burns. The next burn will happen when Bitcoin reaches $125K for the first time, with every subsequent $25K increase in price leading to even more tokens being removed from the supply.
With BTC currently priced at around $75K, BTCBULL offers investors a much more affordable way to gain exposure to the largest crypto by market cap. What’s more, the meme coin itself could soon surge due to the shrinking supply and demand from investors looking to get in on the Bitcoin airdrops.
BTCBULL Presale Crosses $4.5 Million As Investors Bet Big On The Project’s Future
Investors are rushing to buy BTCBULL while it’s still in presale, and have bought more than $4.5 million worth of the token that is trading at $0.00245 apiece.
Anyone that wants to get in on the ground level of the project can do so by purchasing BTCBULL via the easy-to-use widget embedded on the token’s website. The meme coin can be bought with either crypto or bank card, and can also be locked up in the project’s presale staking pool for a 92% APY.
However, investors who want to secure the best deal will want to act fast. BTCBULL’s price will undergo a series of increases as its presale progresses, with the next price hike scheduled for less than 7 hours.
Visit the BTC Bull Token website.
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