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The Bitcoin price rose over 1% in the last 24 hours to trade at $84,841.15 as of 10:18 p.m. EST as investors slowly start to accumulate the crypto.
The uptick in the BTC price comes as GameStop completes its recent stock offering, leaving the company with $1.5 billion to buy Bitcoin, according to Arkham Intelligence.
JUST IN: GAMESTOP COMPLETES ITS $1.5B STOCK OFFERING
GAMESTOP NOW HAS $1.5B TO BUY $BTC https://t.co/SM9Nnsv8wE pic.twitter.com/Nf32AwTfaw
— Arkham (@arkham) April 1, 2025
Bitcoin Price Breaks Resistance
4-hour chart for BTC/USD (Source: TradingView)
The Bitcoin price broke above a resistance level at $84,837.53 in the last 24 hours, and now hovers above the key price point. Should the largest crypto by market cap establish a position above this technical barrier, it could have the technical foundation needed to rise to as high as $86,918.72 in the short term.
However, a drop below the recently-breached $84,837.53 level could spook traders. In this more bearish scenario, the Bitcoin price might be exposed to the risk of retracing all the way down to $83,182.90 if bears are able to overwhelm bulls.
Bears Could Take Control Of The Bitcoin Price If Buyers Don’t Step In
From a technical standpoint, bulls seem to have the upper hand, but there are early warning signs that suggest this might not be the case for much longer. More specifically, short-term traders will want to keep an eye on the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) on the 4-hour chart.
In the last couple of hours, the MACD line has started to drop towards the MACD Signal line. While the current alignment, with the former above the latter, is bullish, the narrowing gap between the two technical indicators could signal that BTC’s bullish momentum is starting to cool off.
Meanwhile, the RSI line has started to fall in the last couple of hours as well. Traders might see this as an early indication of diminishing buyer strength on the 4-hour chart. The current reading in the high 50s suggests that buyers still have the upper hand and that there is room for the Bitcoin price to climb before it reaches overbought territory.
However, the negative slope of the RSI line suggests that sellers are still chipping away at buyers’ grip on the leading crypto’s price. Should the RSI fall below 50 in the next 24 hours, it could confirm that there has been a bearish shift in power on the 4-hour chart.
As bears and bulls battle it out on BTC’s charts, investors flock to a new meme coin presale called BTC Bull Token (BTCBULL) to grow their crypto portfolios. According to 99Bitcoins, an influential YouTube channel with over 725K subscribers, BTCBULL has the potential to soar 10X after launch.
A Meme Coin Offering Its Holders Free Bitcoin
BTC Bull Token is a Bitcoin-branded meme coin that wants to support the crypto market king all the way to $1 million per coin. As the BTC price soars to new heights, the project has set specific price milestones that will trigger either Bitcoin airdrops or BTCBULL token burns.
According to the project’s website, holders will receive free BTC via airdrops when the crypto hits $150K for the first time and for every subsequent $50K increase in the market leader’s price.
The BTCBULL token burns will kick in when Bitcoin reaches $125K for the first time. Thereafter, every $25K increase in Bitcoin’s price will permanently remove tokens from the BTCBULL supply. This is meant to mimic Bitcoin’s ever-growing scarcity.
What’s more, the decreased supply coupled with the demand from investors looking to get in on the BTC airdrops could lead to a skewed supply and demand ratio that will likely cause the meme coin’s price to soar.
With corporates like GameStop starting to buy BTC, it’s only a matter of time before Bitcoin starts to rally due to strong buy side pressure in its order books. This means that the next price milestone at $125K, which will trigger a BTCBULL token burn, is just around the corner.
Investors Bet Big On BTCBULL’s Future
Investors are already rushing to buy BTCBULL during its presale stage, and have poured more than $4.3 million into the project’s ongoing ICO.
To get in at BTCBULL’s ground level, investors can buy some tokens via the simple widget embedded on the homepage on the project’s website. Selling for $0.00244, BTCBULL can be bought with either crypto or bank card.
Once purchased, the BTCBULL tokens can be put to work from the get-go via the project’s presale staking program, which currently offers a 97% APY.
Investors looking for the best deal will want to hurry, because the token’s price will undergo a series of increases as its presale progresses. The next price hike will happen in less than 31 hours.
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