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The Bitcoin price edged down a fraction of a percentage in the last 24 hours to trade at $86,576 as of 1:11 a.m. EST on trading volume that skyrocketed 97% to $31.7 billion.
This decrease in the BTC price comes as MicroStrategy recently sold 1.98 million shares, using the proceeds to purchase 6,911 additional Bitcoin for approximately $584 million.
The company’s total Bitcoin holdings now stand at 506,137 BTC, valued at around $33.7 billion. This aggressive strategy reinforces MicroStrategy’s long-term commitment to Bitcoin, as reflected by plans to raise up to $21 billion for further Bitcoin acquisitions.
Following the latest purchase and Bitcoin’s surge past $85,000, MicroStrategy’s stock (MSTR) increased over 4%.
In other developments, the bankrupt crypto exchange Mt.Gox also shifted 11,501 Bitcoin in a third significant transaction in less than a month.
According to Arkham intelligence, the Japanese exchange sent 893 BTC, worth around $78 million, to the Mt.Gox cold wallet (1Jbez) and 10,608 BTC, worth around $929 million, to the Mt. Gox change wallet (1DcoA).
ARKHAM ALERT: MT GOX MOVING $1B $BTC
893 BTC were moved to Mt. Gox Hot Wallet [1Jbez] and 10608 BTC were moved to change wallet 1DcoA. pic.twitter.com/akr3hqSasD
— Arkham (@arkham) March 25, 2025
Bitcoin Price Analysis: Bullish Breakout From Falling Wedge Pattern Signals Upside Potential
The BTC price on the 4-hour timeframe shows that the crypto had been trading in a falling wedge pattern, a bullish reversal setup characterized by converging trendlines that restrict price movement.
The wedge formed over several weeks, with lower highs and lower lows signaling gradual selling pressure.
However, a breakout above the upper trendline of the wedge has now occurred, confirming the bullish pattern, as data from GeckoTerminal shows.
The breakout suggests that selling pressure has weakened, and buyers are taking control.
Additionally, the Bitcoin price is now trading above the 50 Simple Moving Average (SMA) on the 4-hour chart at $84,472 and the 200 SMA at $86,717, further supporting the bullish outlook.
The Relative Strength Index (RSI) is at 57.56, indicating moderate bullish momentum but not yet in the overbought zone.
BTC Price Prediction
According to the BTC/USDT chart analysis, the breakout from the falling wedge, along with bullish signals from moving averages and the RSI, suggests that the Bitcoin price is likely entering an uptrend.
If the price of Bitcoin sustains above the 200 SMA and continues its upward trend, BTC could reach the $90,000 – $96,000 range in the coming days.
However, if the breakout fails and the Bitcoin price falls below $84,500, BTC may retest the wedge’s upper boundary before attempting higher levels.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL) that is giving away free BTC.
99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale – A Promising Alternative
Investors are pouring funds into the BTC Bull Token presale at a rapid pace, with over $4.0 million raised since its launch.
BTCBULL vows to help drive the Bitcoin price to $1 million and beyond while rewarding investors at key milestones along the way.
If you hold BTCBULL tokens in Best Wallet, you’ll earn BTC airdrops when Bitcoin’s price reaches $150,000, and for every $50,000 gain after that.
A huge BTCBULL token airdrop will also await the strongest holders when BTC hits $250,000, weighted by the 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, each $25,000 move higher in Bitcoin’s price after $125k will trigger a BTCBULL token burn, making the meme coin more scarce and further strengthening the bullish case for the BTCBULL token.
BTCBULL token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 104% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official website to buy BTCBULL tokens for $0.002425 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in around 1 hour to lock in the best deal.
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