{"id":624901,"date":"2025-02-07T14:49:28","date_gmt":"2025-02-07T14:49:28","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=624901"},"modified":"2025-02-07T14:49:28","modified_gmt":"2025-02-07T14:49:28","slug":"bitcoin-price-prediction-btc-tumbles-1-4-as-blackrock-boosts-stake-in-michael-saylors-strategy-while-this-crypto-wallet-ico-heads-for-10m","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-tumbles-1-4-as-blackrock-boosts-stake-in-michael-saylors-strategy-while-this-crypto-wallet-ico-heads-for-10m","title":{"rendered":"Bitcoin Price Prediction: BTC Tumbles 1.4% As BlackRock Boosts Stake In Michael Saylor’s Strategy, While This Crypto Wallet ICO Heads For $10M"},"content":{"rendered":"

The Bitcoin price tumbled 1.4% in the last 24 hours to trade at $97,384.34 as of 5:21 a.m. EST as some investors reduce their exposure to the leading crypto.<\/span><\/p>\n

This slight drop in the BTC price came as a filing showed fund management titan BlackRock had increased its stake in Michael Saylor’s Strategy, which rebranded its name from MicroStrategy yesterday, to 5% from 4.09% previously.<\/span><\/p>\n

The purchase further increased the giant fund manager’s exposure to Bitcoin-linked assets. Strategy is the biggest corporate holder of Bitcoin.<\/p>\n

Bitcoin Price Escapes From A Negative Channel<\/span><\/h2>\n

\"BINANCE:BTCUSDT<\/p>\n

4-hour chart for BTC\/USDT (Source: <\/span>TradingView<\/span>)<\/span><\/p>\n

The <\/span>Bitcoin<\/span><\/a> price was able to break out<\/a> of a short-term descending channel in the last 24 hours, and is now oscillating between $95,703.66 and $98,063.55. Should traders identify BTC’s current price as a buy opportunity, the leading crypto might end up flipping the $98,063.55 resistance level into support. Thereafter, it could rise to $101,461.81.<\/span><\/p>\n

On the other hand, a bearish scenario could lead to a test of the $95,703.66 support. If sellers start to exert pressure on the Bitcoin price, the crypto might even drop below this technical safety net and plunge to as low as the subsequent support at $93,904.24.<\/span><\/p>\n

Technicals Suggest The Bitcoin Price Might Start To Climb Soon<\/span><\/h2>\n

From a technical perspective, indicators on BTC’s 4-hour chart suggest the crypto might rise in the next couple of hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing early bullish signs. <\/span><\/p>\n

The RSI rebounded off of its Simple Moving Average (SMA) line in the last couple of hours. This suggests that sellers tried to overpower buyers, but the latter managed to defend the <\/span>Bitcoin<\/span><\/a> price from the attempted attack. Now, with the positive slope of the RSI line, it appears buyers are accumulating strength against sellers, which could lead to BTC rallying soon.<\/span><\/p>\n

Similar to the RSI and SMA, the MACD line rebounded off of the MACD Signal line in the last couple of hours as well. The MACD line crossing below the MACD Signal line might have been interpreted as a confirmation that the Bitcoin price entered into a negative trend. <\/span><\/p>\n

However, the gap between the MACD and MACD Signal lines, with the former positioned above the latter, is starting to grow. This widening margin between the two technical indicators suggests BTC ‘s bullish momentum is starting to pick up steam.<\/span><\/p>\n

Meanwhile, investors are piling into the <\/span>Best Wallet (BEST)<\/span><\/a> presale as it charges towards $10 million. According to Crypto Gains, a popular YouTuber with over 141K subscribers, BEST has the potential to surge 10X after launch.<\/span><\/p>\n