Join Our Telegram channel to stay up to date on breaking news coverage
The Bitcoin price edged up a fraction of a percentage in the past 24 hours, trading at $118,085 as of 1:24 a.m. EST, with trading volume rising 81% to $41.9 billion.
This minor uptick in the BTC price comes as Strategy co-founder Michael Saylor signaled an impending Bitcoin purchase, as the company’s total holdings crossed $71 billion, according to data from SaylorTracker.
With the recent purchase of 4,225 BTC on July 14, the company’s total holdings now stand at 601,550 BTC.
Bitcoin Price On A Wave 5 Charge, Suggests More Upside
The BTC price continues its ascent within a well-defined rising channel pattern, currently trading near $118,000.
The Bitcoin price is on an Elliott Wave pattern, with Wave (5) now underway. This follows a clean sequence of higher highs and higher lows, typical of an impulsive bull trend.
Each significant pullback (Waves 2 and 4) respected support levels near the midline or the bottom of the channel, reinforcing the trend’s strength, as GeckoTerminal data shows.
The 50 and 200 Simple Moving Averages (SMAs) on the 3-day chart at $97,644 and $75,738, respectively, are both rising, confirming a strong uptrend. BTC also remains well above both, highlighting sustained bullish momentum.
Meanwhile, the Relative Strength Index (RSI) stands at 68.15, approaching overbought territory but not to an extreme extent, which supports continued upward movement.
The Moving Average Convergence Divergence (MACD) is also bullish, with the blue MACD line above the orange signal line and positive histogram bars, indicating that momentum remains in favor of buyers.
Can Strategy Buys Push BTC To $140,000 Next?
With Wave (5) likely in progress, the BTC price could be targeting the upper boundary of the channel, potentially pushing toward $140,000.
With institutions like Strategy pushing for more buys, the Bitcoin price could soar even more.
However, as the RSI approaches overbought levels, traders should watch for a pullback. If this happens, the price of Bitcoin could undergo a correction, with the $99,531 level acting as the next major support.
Meanwhile, investors are piling into a new BTC-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 Token Presale Racing Towards $4 Million – Next 10X Crypto?
Bitcoin Hyper aims to become BTC’s first full-fledged Layer-2 (L2) execution network, built from the ground up to surpass the Bitcoin blockchain’s performance limits.
Unlike previous sidechains and L2 solutions, Bitcoin Hyper will leverage the Solana Virtual Machine (SVM), which is known for its high speed and proven reliability.
The SVM’s parallel processing architecture will enable a theoretical throughput of over 60,000 transactions per second (TPS), significantly outpacing Bitcoin’s base layer and even Web2 payment networks.
🚨 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
The project also functions on a decentralized Canonical Bridge, which ensures seamless and secure transfers between Bitcoin’s base layer and BTC Hyper.
Investors are betting big on the idea, having pumped over $3.9 million into the project’s presale. Additionally, if you buy and stake now, you could unlock a 241% APY. However, this rate decreases as more people join, so timing is crucial.
Investors interested in participating in the presale can visit the official Bitcoin Hyper Token website to buy HYPER tokens for $0.01235 each using crypto or a bank card.
Buy before the next price increase in about 31 hours.
Visit the Bitcoin Hyper website.
Related News:
- ETH Surges 24%, But Experts Say This Might Be The Best Crypto To Buy Now
- Best Cryptocurrencies to Invest in Right Now, July 20 — Render, Ethena
- Next Cryptocurrency to Explode, 20 July — Qubic, Pyth Network, FTX Token, Immutable
Best Wallet - Diversify Your Crypto Portfolio
Join Our Telegram channel to stay up to date on breaking news coverage
