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The Bitcoin price edged down a fraction of a percentage in the past 24 hours to trade at $104,140 as of 3:25 a.m. EST, with trading volume surging over 1% to $24.7 million.
This drop in the BTC price comes as corporate wallets continue to accumulate the leading crypto. However, Standard Chartered believes that this accumulation could lead to a crash over time.
#Bitcoin: Corporate Strategies and New Challenges 🚀✨
Bitcoin remains a central topic in financial discussions. In 2025, Standard Chartered highlighted the impact of corporate strategies. For example, Strategy acquired 74,000 BTC, while their imitators bought another 47,000… pic.twitter.com/gGH9o3ifPZ
— Eden Staford (@StafordEden) June 4, 2025
Most companies in the bank’s sample have net asset value multiples above 1, which, for now, appears acceptable due to regulatory restrictions and slow-moving investment policies.
However, the bank has warned that if those roadblocks disappear, nothing is stopping the same companies from turning into sellers, rather than buyers. The firm also pointed out that many of these new corporate buyers didn’t get in cheap.
Bitcoin Price Currently In A Consolidation Zone
The BTC price on the daily chart displays a rounded bottom formation that began forming in March 2025 and culminated with a bullish breakout in May.
A rounded bottom often indicates a trend reversal from bearish to bullish and is considered a strong continuation signal when it occurs mid-trend.
The breakout led to a surge above the $100,000 psychological level, with BTC reaching highs near $112,300 before encountering resistance, according to GeckoTerminal data.
Currently, the Bitcoin price is undergoing a mild pullback from its recent highs, consolidating around the $104,000 zone. This area aligns closely with the 0.236 Fibonacci retracement level at $101,736 and appears to be acting as support.
The BTC price structure, combined with the upward trend lines and recent bullish recovery, suggests that this could be a healthy retest before another leg higher.
BTC now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which places the price in a bullish trend.
Meanwhile, the 50-day SMA has crossed above the 200-day SMA, forming a golden cross at $93,462, which further reinforces a bullish outlook.
Moreover, the Relative Strength Index (RSI) remains consolidating within the 50-neutral zone, indicating that the price of BTC is still in a consolidation phase.
BTC Price Prediction
According to the BTC price analysis, the outlook remains bullish. If the Bitcoin price maintains support above $102,000, a push toward the previous high at $112,300 appears likely. Breaking above this resistance could open the door for a retest of the $124,000 level, which corresponds to the -0.27 Fibonacci extension.
On the downside, if the $101,000 support level fails, BTC may revisit the 50-day SMA near $100,000 and potentially the 200-day SMA around $95,000.
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.
BTC Bull Token Presale Nears The $7 Million Mark – 25 Days Left To Buy
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 those 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.
Behind a strong interest from savvy money investors, the BTC Bull Token presale has raised over $6.84 million in short order.
🚨 $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 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 60% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL tokens for $0.00255 each using BNB, ETH, USDT, or a bank card.
Buy before the presale ends in about 25 days.
Visit the BTC Bull Token website.
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