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The Bitcoin price edged up a fraction of a percentage in the past 24 hours to trade at $105,236 as of 12:29 a.m. EST, with trading volume surging 2% to $17.2 billion.
The slight increase in the BTC price comes as Strategy co-founder Michael Saylor posted the SaylorTracker chart, which signals an impending Bitcoin acquisition by his company. A purchase could mark the eighth consecutive week of purchases by the company.
In a post on X, Saylor declared, “Orange is my preferred color,” a nod to a Bitcoin purchase. On May 26, the company made its latest acquisition of approximately 4,020 BTC, valued at around $427 million, bringing its total holdings to 580,250 BTC.
Orange is my Preferred Color pic.twitter.com/rc9JIcJOAT
— Michael Saylor (@saylor) June 1, 2025
Bitcoin Price Bouncing Off Support, Aims For A 7% Surge
The BTC price recently formed a rounded bottom pattern, a typical bullish signal indicating that the asset may be poised for further positive gains. The surge on the right side of the curve was supported by the 0.786 Fibonacci level at $77,121.
BTC then surpassed the $104,200 resistance zone, which pushed the price to a new all-time high (ATH) around $112. However, the bears then took charge of the price of BTC, driving it back to the $104,200 level, as GeckoTerminal data shows.
The price of Bitcoin now seems to be bouncing from the support zone, with technical indicators turning positive. The BTC price trades above both the 50-day and 200-day Simple Moving Averages (SMAs), a bullish signal.
Meanwhile, the 50-day SMA has recently crossed above the 200-day SMA, forming a golden cross around $93,572, which confirms the bullish sentiment.
The Relative Strength Index (RSI) seems to be bouncing from the 50 neutral level, now at the 54 level.
If the bulls continue buying and push the RSI even higher, the Bitcoin price could still soar, potentially driving the asset to the next resistance at the 0 Fib level, which is within its all-time high (ATH), representing a 7% surge from the current level. Intense pressure from bulls could then drive the price of BTC to a new ATH at $127,448.
On the flip side, if the bears take charge of the price at this level, the Bitcoin price could drop to the $95,182 level along the 0.382 Fib level.
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 56.7k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Rushes Towards The $7M Milestone – Best Alternative To Bitcoin?
BTC Bull Token is a BTC-inspired meme coin with a mission to help holders ride the Bitcoin bull market and earn real Bitcoin along the way.
When Bitcoin reaches key price milestones for the first time, such as $150K and $200K, BTCBULL token holders will receive real BTC airdrop rewards in their wallets. If Bitcoin reaches $250K, a massive BTCBULL airdrop will occur, with the project allocating 10% of the total token supply for this occasion.
Moreover, when BTC reaches $125K, $175K, and $225K, the team will burn up to 15% of the total token supply to induce scarcity, a measure that is often known to help increase a token’s price.
At $125K BTC, BTCBULL will trigger its first token burn. 🔥
Less supply. Same hype. The charge is on! 🐂 pic.twitter.com/O218IzuwsE
— BTCBULL_TOKEN (@BTCBULL_TOKEN) May 27, 2025
So far, investors have invested over $6.7 million in the project during its early presale stage.
Investors can also earn a passive income through the project’s staking protocol, which offers a 61% annual yield.
You can purchase tokens now for $0.00254 using BNB, ETH, USDT, or bank card.
Interested investors will want to buy before the next presale price hike in less than 1 hour.
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