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The Bitcoin price dropped by over 1% in the last 24 hours to trade at $108,124 as of 7:38 p.m. EST on trading volume that plunged 19% to $24.3 billion.
This comes after US President Donald Trump signed into law his “One Big, Beautiful Bill.”
Trump claims it’s the most popular bill ever signed in the history of the country and that it includes the single largest tax cut, the largest spending cut, and the largest border security investment in US history.
It is also set to significantly increase the national debt, triggering concerns about inflation and sustainability. Investors may buy thus Bitcoin as a hedge against inflation, and crypto more broadly could see increased demand.
Will the price of Bitcoin rise as a result?
Bitcoin Price Outlook: Technical Indicators Suggest A New ATH
BTC price has been consolidating within a clear horizontal range between approximately $106,000 and $112,000.
The Bitcoin price previously surged after forming a Golden Cross, where the 50-day Simple Moving Average (SMA) crossed above the 200-day SMA, signaling a strong bullish momentum earlier this year.
However, the price of BTC now appears to be struggling to break decisively above the resistance zone, creating a possible accumulation phase.
Meanwhile, the 50-day SMA ($106,376) is acting as dynamic support, and the 200-day SMA ($96,351) remains far below, keeping the overall Bitcoin structure bullish.
The Relative Strength Index (RSI) is hovering around 55, which is neutral territory, suggesting neither overbought nor oversold conditions. This indicates a balance between buyers and sellers as they wait for a formidable catalyst for the next move.
If the price of Bitcoin manages to break above the $112,000 resistance zone with strong volume, it could trigger a fresh bullish wave toward a new all-time high (ATH) at $116,540.
BTC/USD Chart Analysis (Tradingview)
Conversely, a breakdown below $106,000 and the 50-day SMA may open the door for a deeper correction, potentially testing the 200-day SMA near $96,351.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give token holders free BTC.
Jacob Crypto Bury, a prominent YouTuber with over 56.9k subscribers, says BTCBULL has the potential to soar 10X after its launch in just 2 days.
BTC Bull Token Presale Garners Over $8.1 Million – Only 2 Days Left To Buy
As more people look to invest in Bitcoin, BTC Bull Token is catching the market’s attention and it’s already raised more than $8.1 million in its presale, with just 2 days left before launch.
Unlike most meme coins that thrive on pure hype, BTC Bull Token directly rewards holders with Bitcoin airdrops as Bitcoin’s price hits specific milestones.
This system encourages long-term holding and builds a community of committed Bitcoin believers.
Strap in. Claim info dropping soon. 🔥 pic.twitter.com/SK1x1ieV6e
— BTCBULL_TOKEN (@BTCBULL_TOKEN) June 27, 2025
The first BTC reward activates when Bitcoin reaches $150,000 for the first time, with subsequent airdrops for every additional $50,000 milestone the crypto achieves after that.
There will also be a special BTC Bull Token airdrop when the BTC price reaches $250,000.
To enhance scarcity and mimic Bitcoin’s limited supply, the project will also conduct periodic token burns, beginning at Bitcoin’s $125,000 milestone and continuing at every $50,000 increase in the BTC price thereafter.
You can purchase tokens now for $0.002585 using BNB, ETH, USDT, or a bank card and then stake them for a huge 51% annual yield. Over 2 billion tokens have already been staked.
Interested investors have just 2 days left to buy BTCBULL before its presale ends.
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