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The Bitcoin price edged up a fraction of a percentage in the past 24 hours to trade at $103,030 as of 12:30 a.m. EST, with trading volume skyrocketing 137% to $38.8 billion.
With the recent gain, the BTC price is once again nearing its all-time high (ATH) of $109,114.88 that it set in January.
As the crypto market leader eyes a new record price, Metaplanet has continued its BTC accumulation and announced earlier today that it acquired 1,004 BTC for $104.3 million. The firm now holds 7,800 BTC, which aligns with their strategy to build a Bitcoin treasury.
Bitcoin Price Aims For A Continued Surge
The weekly chart for the BTC price is in a clearly established bullish trend within a rising channel. BTC price action has respected both the upper resistance and lower support bounds of this channel since mid-2023.
The Bitcoin price has recently formed a rounded bottom pattern, which is a bullish reversal signal, indicating strong accumulation before the recent breakout. This breakout was followed by a swift upward movement, breaking above a key resistance level that has now turned into support around the $92,373 zone, as GeckoTerminal data shows.
Additionally, the 50 Simple Moving Average (SMA) on the 1-week timeframe at $80,607 is well below the current price, reinforcing the long-term bullish trend.
The price of BTC recently rallied to a high near $107,000 before facing mild rejection and pulling back slightly to around $103,000.
Meanwhile, the Relative Strength Index (RSI) currently trades at 62.68, which is bullish but not yet in overbought territory. This suggests continued upward momentum with some room for further gains before hitting extreme levels.
Moreover, the Moving Average Convergence Divergence (MACD) shows a bullish crossover, as the blue MACD line has now crossed above the orange signal line, a testament of the continued upward momentum. The green bars on the histogram are now extending above the zero line, further reinforcing the bullish outlook.
BTC Price Prediction
Given the bullish structure, the breakout from the rounded bottom, and strong momentum indicators, the BTC price appears poised to retest the recent high and possibly push toward the next psychological resistance near $110,000.
However, in case of bearish pressure at this level, Bitcoin’s price could retrace, with the $92,373 support acting as a cushion against downward pressure.
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 56.5k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Closing On $6 Million – A Promising Alternative To Bitcoin?
Bitcoin seems to be recovering towards its ATH. As it soars, BTC Bull Token investors are confident the leading cryptocurrency is on track to soar to $250,000.
BTC Bull Token is a meme coin representation of Bitcoin, but with levels of utility that are not often seen with meme coins. Every time Bitcoin hits a new price milestone, starting at $150,000, BTCBULL holders receive real Bitcoin via airdrops, distributed based on the number of tokens they own.
When Bitcoin rises, so do your airdrop rewards. 🏹⭐ pic.twitter.com/9aITqaMOaG
— BTCBULL_TOKEN (@BTCBULL_TOKEN) May 9, 2025
The airdrops don’t stop there, as the reward mechanism resets with every $50,000 jump in Bitcoin’s price, which means more airdrops at $200,000, $250,000, and so on.
The project has already raised over $5.96 million as investors seek a more cost-effective way to gain BTC exposure than buying Bitcoin directly.
Additionally, at every $25k increase in the BTC price, starting at $125k, the project will buyback and burn BTCBULL tokens.
BTCBULL token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 69% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL tokens for $0.00252 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in about 2 days to lock in the best presale rate.
Visit the BTC Bull Token website.
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