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The Bitcoin price edged down a fraction of a percentage in the past 24 hours to trade at $108,798 as of 12:26 a.m. EST, with trading volume surging 18% to $35.3 billion.
The slight drop in the BTC price comes as Wyoming Senator Cynthia Lummis stated that US President Donald Trump supports the BITCOIN ACT, which proposes the US buy 1 million Bitcoin.
🚨BREAKING:
SENATOR LUMMIS SAYS PRESIDENT TRUMP SUPPORTS THE BILL TO BUY 1 MILLION #BITCOIN
THIS IS MASSIVE 🚀 pic.twitter.com/h0AyCIoufg
— CryptoGoos (@crypto_goos) May 27, 2025
While speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Lummis said she is bringing the BITCOIN ACT to the attention of the American people and the world.
Bitcoin Price Bullish Flag Breakout Signals Potential For Higher Highs
On the 12-hour chart, the BTC price has formed and broken out of a textbook bullish flag pattern.
The breakout above the upper trendline of the flag confirms the continuation of the prior bullish trend. This pattern indicates strong bullish control, often leading to a second leg up that is roughly equal in length to the flagpole.
Meanwhile, the 50-period Simple Moving Average (SMA) is trending well above the 200-period SMA, forming a golden cross, which signals a sustained bullish trend. The price of Bitcoin is also currently holding above both SMAs, reinforcing the strength of the current uptrend.
Fibonacci retracement levels offer additional support structure. After the flag formation, the price of BTC respected the 0.382 and 0.5 retracement levels during consolidation, indicating healthy correction dynamics before resuming its upward move. The breakout through the 0.236 retracement at $107,728 further confirms bullish strength, as GeckoTerminal data shows.
The Relative Strength Index (RSI) sits at 57.28. This reading is comfortably below the overbought zone, suggesting that there is still room for price appreciation without facing immediate downward pressure.
BTC Price Prediction
BTC appears poised to challenge the next major resistance around $117,000, a 7% surge from the current level.
As long as the Bitcoin price remains above the former resistance (now potential support) at around $107,700, the bullish outlook remains valid. A drop below this level could indicate a failed breakout, potentially triggering a retest of the $105,000–$103,000 range in the short term.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which gives token holders free BTC through airdrops.
99Bitcoins, a prominent crypto YouTube channel with over 723k subscribers, says BTCBULL is poised for massive gains.
Bitcoin Bull Token Presale Racing Towards The $7 Million Mark
BTC Bull Token isn’t your average meme coin. It’s a turbocharged, meme-powered project with one mission: ride Bitcoin’s charge to $1M and reward early believers along the way.
The project is designed for investors who believe that Bitcoin will continue its long-term growth trajectory and reach $250,000 and $500,000 in the near future. As Bitcoin hits these milestones, investors will earn free Bitcoin through airdrops.
The amount of BTC investors will receive with each airdrop will be determined by the duration and the amount of BTCBULL held.
🚨 $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
Behind a strong interest from savvy money investors, the BTC Bull Token presale has raised over $6.48 million in short order.
In addition to BTC airdrops, the team will also carry out BTCBULL token burns, permanently removing a portion of the total supply. The aim is to follow Bitcoin’s footsteps and increase scarcity and value. These burns will happen at each new $50,000 milestone BTC achieves, starting at $125,000.
BTCBULL token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 63% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL tokens for $0.002535 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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