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The Bitcoin price edged down a fraction of a percentage in the past 24 hours to trade at $117,550 as of 1:26 a.m. EST, with trading volume rising 26% to $53.1 billion.
This slight drop in the BTC price comes as Trump Media & Technology Group (TMTG), the parent company of Truth Social, officially became the 5th-largest public holder of Bitcoin, overtaking Japan’s Metaplanet.
With an estimated 18,430 BTC, TMTG now holds more than Metaplanet’s 16,352 BTC, according to Bitcoin Treasuries.
As big firms continue to accumulate the king of crypto, can the price of Bitcoin continue soaring?
Bitcoin Price Targets Fresh Highs As Bulls Push Toward $130,000
The daily chart for the BTC price displays a strong upward trend, with the price continuing to trade within a rising channel pattern.
After recovering from the April low around $76,000, the Bitcoin price has consistently formed higher highs and higher lows, signaling sustained bullish momentum.
The recent breakout above the key Fibonacci retracement levels, particularly the 0.618 level at $101,081 and the 0.382 level at $109,423, reinforces the positive price structure, as GeckoTerminal data shows.
Meanwhile, the 50-day Simple Moving Average (SMA) at $109,383 is trending above the 200-day SMA $97,892, confirming a classic golden cross setup and suggesting the longer-term trend favors buyers.
Moreover, the Relative Strength Index (RSI) sits at 62.20, indicating bullish momentum without yet reaching overbought territory, leaving room for further upside before any significant correction is likely.
Bitcoin’s price appears poised to test the previous high near $122,900. A successful push above this level could see the price of Bitcoin extend toward $126,578, a 7.76% surge from the current level. Sustained momentum could then push BTC above the $130,000 level in the coming weeks.
As major players continue to add to their holdings, BTC continues to gain traction, which could push its price even higher.
However, failure to hold the $114,500–$115,000 zone could lead to a short-term retest of the $109,423 (0.382 Fib level) support level before any bullish attempt.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER could soar 10X after launch.
Bitcoin Hyper Presale Closes On $4.5 Million – Buy And Stake For 232% APY
Bitcoin Hyper is a low-cap Bitcoin layer-2 presale that’s already raised $4.13 million. The project is gaining early attention for combining scalability, fast transactions, and meme coin characteristics within Bitcoin’s layer-2 ecosystem.
Although Bitcoin dominates the crypto space, its network lacks the speed needed for modern use. BTC Hyper aims to change that by launching the first layer-2 scaling solution explicitly built for BTC.
This new layer-2 runs on Solana’s Virtual Machine (SVM), enabling fast transaction speeds, lower fees, and support for high-performance applications. The project will utilize a Canonical Bridge to track BTC deposits and reflect them on the layer-2 network.
🚨 Bitcoin Hyper is now live in Best Wallet! 🚨@BTC_Hyper2 is building Bitcoin’s first Layer 2 focused on real scalability — enabling fast, cheap BTC transactions, meme coins, dApps, and more.
It’s secured by Bitcoin L1 and powered by Solana VM tech for high speed and massive… pic.twitter.com/5Ktj12RCR1
— Best Wallet (@BestWalletHQ) June 5, 2025
If you buy and stake now, you can also unlock a 232% annual return. The rate decreases as more people join, so it’s best to get in early.
Investors interested in participating in the presale can visit the official Bitcoin Hyper website to buy HYPER tokens for $0.01235 each using crypto or a bank card.
Buy before the next price increase in less than 8 hours.
Visit the Bitcoin Hyper website.
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