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The Bitcoin price edged down 1% in the past 24 hours to trade at $107,625 as of 3:32 a.m. EST, with trading volume jumping 2% to $34.3 billion.
This drop in the BTC price comes as data indicates that inflation was cooler than expected in May, a sign that the full impact of President Donald Trump’s new tariffs has not yet permeated the US economy.
Overall, inflation rose at a 2.4% annual rate in May and 0.1% on a monthly basis, according to data released Wednesday by the Bureau of Labor Statistics.
Bitcoin Price Builds Momentum – Targets $120K+
The BTC price on the 3-day timeframe has exhibited a clear bullish trend since late 2024, with the asset climbing from the $67,000 level and reaching highs near $112,000.
A distinct rounded bottom pattern and a brief consolidation period above the $100,000 mark complete the bullish formation.
This is a classic continuation pattern suggesting a potential breakout, which did occur, although price action is now consolidating just below recent highs.
The Bitcoin price has respected the 0.236 retracement level at $101,736, which now acts as near-term support, as GeckoTerminal data shows.
The dotted trendline connecting recent higher lows confirms an ascending support line, further reinforcing the ongoing uptrend.
Meanwhile, the 50 Simple Moving Average (SMA), currently around $94,665, is sloping upwards and has consistently acted as dynamic support during recent retracements. The 200 SMA, positioned at $70,882, remains well below the current price, suggesting that the broader trend remains bullish.
The Relative Strength Index (RSI) stands at 61.97, indicating bullish momentum but not yet in overbought territory. This level suggests that the asset still has room to climb before reaching exhaustion.
BTC appears poised for a potential continuation of its upward trajectory. If the price of Bitcoin maintains support above the $101,736 (0.236 Fibonacci level) and continues respecting the ascending trendline, a breakout above the $112,329 resistance could propel BTC toward the next Fibonacci extension level at $124,448.
However, should the Bitcoin price break below the $100,000 support region, it may retrace toward the 50 SMA near $94,665, a critical level to monitor for signs of weakening momentum.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give token holders free BTC.
Jacob Bury, a prominent YouTuber with over 56.7k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Rushes Towards The $7.5M Milestone – Best Alternative To Bitcoin?
BTC Bull Token is a BTC-inspired meme coin with a mission to help holders ride the Bitcoin bull market and earn real Bitcoin along the way.
When Bitcoin reaches key price milestones for the first time, such as $150K and $200K, BTCBULL token holders will receive real BTC airdrop rewards in their wallets.
If Bitcoin reaches $250K, a massive BTCBULL airdrop will occur, with the project allocating 10% of the total token supply for this occasion.
Moreover, when BTC reaches $125K, $175K, and $225K, the team will burn up to 15% of the total token supply to induce scarcity, a measure that is often known to help increase a token’s price.
So far, investors have invested over $7.09 million in the project during its early presale stage.
Last chance to buy BTCBULL before launch! 🐂🧨
The countdown ends on June 30th. ⌛
Here’s what’s coming:
🔥 BTCBULL token burns
🪂 BTC airdrops at price milestones
🎁 BTCBULL airdrop when Bitcoin hits $250KJoin the herd: https://t.co/FQZXEzFwWu pic.twitter.com/aeUmLJcSOC
— BTCBULL_TOKEN (@BTCBULL_TOKEN) June 2, 2025
Investors can also earn passive income through the project’s staking protocol, which offers a 57% annual yield.
You can purchase tokens now for $0.00256 using BNB, ETH, USDT, or bank card.
Interested investors will want to buy before the presale ends in about 18 days.
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