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The Bitcoin price rose 2% in the past 24 hours to trade at $106,378 as of 3:46 a.m. EST, while trading volume dropped 1% to $36.4 billion.
In the last day, the BTC price reached a local high above $107K and is now just a stone’s throw away from its all-time high (ATH) of $109K.
That comes as Blackstone, an asset management firm, reported holding just over $1 million worth of shares in BlackRock’s spot Bitcoin ETF (exchange-traded fund) as of March 31 in a May 20 filing with the US Securities and Exchange Commission (SEC).
🇺🇸 $1 TRILLION BLACKSTONE JUST REVEALED BUYING #BITCOIN ETF FOR THE FIRST TIME IN HISTORY
THIS IS WILD!!! 🚀 pic.twitter.com/PvlIddtndp
— Vivek⚡️ (@Vivek4real_) May 20, 2025
Blackstone reported holding 24,094 shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT).
With the slight correction back to the $106K region and continued interest from large institutions, can BTC still soar to its ATH?
Bitcoin Price Aims For Key Resistance, Poised To Climb To A New ATH
The daily BTC/USD chart shows Bitcoin hovering around the $103,264 mark. The BTC price has been grinding above a key support zone of $102,692, which is the 0.382 Fibonacci retracement level.
Above that, there’s a major resistance at $104,869 to $108,455. BTC has to flex some serious muscle to break through that, as GeckoTerminal data shows.
The sustained rally from the $90,000 support in April pushed the Bitcoin price above the 50-day and 200-day Simple Moving Averages (SMAs). The 50-day SMA is climbing and nearing the 200-day SMA as well, which could form a golden cross in the coming days. If this happens, the golden cross could be a bullish signal for BTC bulls.
Meanwhile, the Relative Strength Index (RSI) is hovering around the overbought territory at 73, which indicates that the price of Bitcoin may be under intense buying pressure. If the RSI keeps climbing, BTC’s price might see a quick dip as traders take profits, but if it holds steady, the momentum could push BTC higher.
Looking at the price targets on the chart, if Bitcoin breaks that $108,386 resistance, the next stop could be $110,000, with a stretch goal of $112,411.
Conversely, if bears take over and the price drops below the $102,692 support, Bitcoin might slide to $99,175 or even $96,828. The Blackstone buy signals bullish optimism, but the RSI warns of caution since overbought conditions can lead to a fake out.
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 ICO Closing On $6.1M Target – Best Bitcoin Alternative?
Unlike typical meme coins, BTCBULL rewards holders with free Bitcoin through scheduled BTC airdrops triggered by the crypto market leader’s rising price.
The first BTC reward activates when Bitcoin reaches $150,000, with subsequent airdrops every additional $50,000 increase.
Furthermore, a significant bonus awaits dedicated holders when Bitcoin hits the $250,000 mark for the first time.
The excitement around BTCBULL doesn’t stop there. To enhance scarcity and mimic Bitcoin’s limited supply, the project will conduct periodic token burns as well, beginning at Bitcoin’s $125,000 milestone and continuing every $25,000 increase thereafter.
🚨 $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
That mechanism reduces BTCBULL’s supply, potentially creating powerful upward price momentum.
Investor confidence is already evident, as BTCBULL’s presale has swiftly amassed over $6.07 million.
You can purchase tokens now for $0.00252 using BNB, ETH, USDT, or bank card and stake them for an impressive 68% annual yield.
With expert endorsements and strong investor interest, BTCBULL’s launch looks set to ignite the crypto community.
Interested investors will want to buy before the next presale price increase in around 1 hour to lock in the best deal.
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