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The Bitcoin price dropped over 2% in the last 24 hours to trade at $83,661 as of 4:23 a.m. EST, with trading volume plunging 40% to $22.8 billion.
This decrease in the BTC price comes as US President Donald Trump dropped a video into a crypto event on Thursday, elevating his pro-crypto sentiment and asserting that crypto will spark economic growth.
🇺🇸 Donald Trump full address at the Digital Assets Summit.
He mentioned stablecoins regulation and also criticized the Biden administration for going after crypto companies. pic.twitter.com/AGiZHqMUDr
— Cas Abbé (@cas_abbe) March 20, 2025
“We’re ending the last administration’s regulatory war on crypto and Bitcoin, including stopping the lawless Operation Choke Point. Operation Choke Point went beyond regulation, and I mean far beyond. Frankly, it was a disgrace,” Trump said.
Bitcoin Price Breakout Signals Upward Momentum
The BTC price has been trading within a falling wedge pattern, which is typically a bullish reversal setup.
The Bitcoin price has recently broken out of this wedge, signaling a potential trend shift to the upside. A sharp move above the wedge’s upper trendline confirms the breakout level, indicating that buying pressure is increasing.
The $88,015.13 level, marked by the 200 Simple Moving Average (SMA) on the 4-hour chart, serves as a key resistance. If BTC can sustain momentum, it may attempt to reclaim this level in the near term.
Meanwhile, the 50 SMA at $83,450.02 is currently acting as immediate support after the breakout, according to GeckoTerminal data.
Meanwhile, the Relative Strength Index (RSI) is at 47.88, which is near the neutral zone. This suggests that the asset is neither overbought nor oversold, leaving room for further upside movement. If the RSI pushes above 50, it could confirm bullish momentum.
Given the bullish breakout, the Bitcoin price has the potential to rally toward $88,000–$92,000 in the short term.
If the price of BTC is rejected at $88,000, it may retest support around $80,000 before making another attempt to rise.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL) for potential Bitcoin airdrops. 99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL could soar 10X after launch.
BTC Bull Token Presale Closing On $4 Million
In one of the strongest presale showings of the year, new meme coin BTC Bull Token just rocketed past the $3.8 million raised in its ongoing token presale.
Investors are piling into BTCBULL with the goal of earning real Bitcoin rewards. The project has promised to airdrop BTC to BTCBULL token holders when the original cryptocurrency reaches certain price milestones.
As Bitcoin marches toward the $1 million target, BTC BULL Token holders will get rewarded along the way. Investors who hold BTCBULL in Best Wallet will receive free BTC airdrops when the Bitcoin price hits $150k and $200k for the first time.
There will also be a massive BTCBULL airdrop for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
In addition to BTC airdrops, the team will also carry out token burns, permanently removing a portion of the total supply. The aim is to follow in Bitcoin’s footsteps and increase scarcity and value.
Bitcoin Bull token holders can earn passively by staking their tokens for a 109% annual yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL for $0.00242 each using BNB, ETH, USDT, or a bank card.
Buy BTCBULL before a price hike in a day to secure the best deal.
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