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The Bitcoin SV price climbed 2% in the last 24 hours to trade at $37.89 as of 4:06 a.m. EST on trading volume that plunged 22% to $39 million.
This uptick in the BSV price comes despite the market taking a hit after US President Donald Trump’s executive order disappointed traders.
The order was a disappointment for crypto enthusiasts as crypto czar, David Sacks, said in an X post that the Reserve would be capitalized with BTC owned by the federal government from criminal and civil forfeiture cases, and taxpayer money would not be used to acquire cryptocurrencies.
Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.
The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it…
— David Sacks (@davidsacks47) March 7, 2025
Bitcoin SV Price Analysis: Key Support Holding, But Can It Break Resistance?
The weekly BSV price chart highlights a long-term descending trendline (blue) that has acted as strong resistance since 2021.
Every rally has failed to break above this trendline, making it the key level to watch for any bullish reversal.
A potential cup-and-handle pattern appears to have formed and invalidated within the wedge. However, the Bitcoin SV price has pulled back into the purple support zone instead of breaking higher, delaying confirmation of this pattern.
The 50-period Simple Moving Average (SMA) on the weekly chart is currently at $53.93, acting as dynamic resistance. BSV must reclaim this level to gain bullish momentum.
Meanwhile, the Relative Strength Index (RSI) is at 38.72, which is still in bearish territory. However, a move above 50 would indicate growing bullish strength.
BSV Price Prediction
If the Bitcoin SV price holds above the $35–$40 support zone, a potential bounce towards the $50–$55 resistance zone is likely. A break above the descending trendline ($60–$65) would confirm a trend reversal and could send BSV towards $100+.
However, if support fails, further downside towards $25–$30 could be possible.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL) for potential Bitcoin airdrops. 99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL could soar 10X after launch.
BTC Bull Token Presale Closing On $4 Million
In one of the strongest presale showings of the year, new meme coin BTC Bull Token just rocketed past $3.3 million raised in its ongoing token presale.
Investors are piling into BTCBULL with the goal of earning real Bitcoin rewards. The project has promised to airdrop BTC to BTCBULL token holders when the original cryptocurrency reaches certain price milestones.
Investors who hold BTCBULL in Best Wallet will receive free BTC airdrops when the Bitcoin price hits $150k and $200k for the first time.
There will also be ”a huge BTCBULL airdrop” for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
Also, each $25,000 upward move in bitcoin’s price after $100,000 triggers a BTCBULL token burn. Fewer tokens in circulation means greater scarcity, thereby strengthening the price outlook for BTCBULL if demand rises.
BTC Bull Token holders can also earn passively by staking their tokens for a 129% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL for $0.0024 each using BNB, ETH, USDT, or a bank card.
Investors looking to lock in the best rate will want to act fast, because BTCBULL’s price will undergo a presale hike in less than 3 days.
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Best Wallet - Diversify Your Crypto Portfolio
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