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The Bitcoin price surged 5% in the last 24 hours to trade at $87,582 as of 2 a.m. EST on trading volume that dropped 21% to $59.55 billion.
The BTC price pump came as Mexican billionaire Ricardo Salinas, the founder and chairman of Grupo Salinas, said 70% of his investment portfolio is now allocated to Bitcoin-related assets, up from just 10% in 2020.
BREAKING: MEXICAN BILLIONAIRE RICARDO SALINAS TELLS BLOOMBERG 70% OF HIS WEALTH IS NOW IN #BITCOIN
"I DON'T HAVE A SINGLE BOND. I DON'T HAVE ANY STOCKS EXCEPT MY OWN." 🔥 pic.twitter.com/WdYbRwzLfC
— The Bitcoin Historian (@pete_rizzo_) March 4, 2025
A strong dedication to Bitcoin was also seen in El Salvador, where President Nayib Bukele said his government will continue buying at least 1 BTC per day despite the International Monetary Fund’s (IMF) repeated requests to stop.
“This all stops in April.” “This all stops in June.” “This all stops in December.”
No, it’s not stopping.
If it didn’t stop when the world ostracized us and most “bitcoiners” abandoned us, it won’t stop now, and it won’t stop in the future.
Proof of work > proof of whining https://t.co/9pC0PoY3YQ
— Nayib Bukele (@nayibbukele) March 4, 2025
Bitcoin Price Prediction
With businessmen from around the world doubling down on Bitcoin, the coin’s chances of skyrocketing further are once again getting stronger.
Despite yesterday’s price drop, Bitcoin has been trying to recover and go back up, potentially ready to start the long-awaited year-long rally.
So far, its Bollinger bands have seen a sharp widening as its price surged, but have since tightened again as the coin started trading sideways, sitting under a resistance at $87.5k.
However, Bitcoin’s Relative Strength Index (RSI) value suggests that there is still room for growth. After fluctuating between the oversold zone and the neutral value at 50, Bitcoin’s RSI surged to the overbought zone some 12 hours prior to the time of writing.
However, after being rejected by the level at $89k, its price dropped to where it is right now. This happened as traders decided to take profit once the RSI hit the overbought zone, but they stopped as soon as it dropped back to 50. Right now, the Bitcoin RSI sits at 56, still in the neutral area, and could potentially push up to $90k throughout the day if European and later American traders manage to maintain the bullish sentiment.
Promising Alternative To Bitcoin
While the Bitcoin price recovers, investors are piling into BTC Bull Token (BTCBULL), a meme coin presale that’s raised over $3.2 million in less than a month.
The project launched its presale on February 10, seeking to help push Bitcoin to $1 million and beyond as it offers free Bitcoin to its investors at key milestones along the way.
Whenever Bitcoin’s price grows to reach one of these milestones — such as $150k, $200k, $250k, and so on — the project will airdrop free BTC to anyone who holds its native token, BTCBULL.
On top of that, it will also hold token burns whenever the BTC price grows by $25k, starting at $125k.
Apart from offering free BTC, the project also offers staking, allowing its holders to earn a huge annual yield of 133% on staked BTCBULL tokens.
When BTC hits $250k, BTCBULL holders eat. 🐂
A massive airdrop is coming for the strongest hands. 🔥 pic.twitter.com/hIeDC3iVFH
— BTCBULL_TOKEN (@BTCBULL_TOKEN) March 4, 2025
Crypto expert and YouTuber ClayBro, who has over 136k subscribers, said Bitcoin’s recovery could ”fuel explosive gains” for BTCBULL
Interested investors should buy BTCBULL before a price hike in about 2 days.
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