Bitcoin’s price has dipped 3%, trading at $89,038.82. Investors are eyeing BTC Bull Token (BTCBULL) for potential airdrops as Bitcoin struggles below $90K. Technical indicators suggest bullish movement may ensue if key resistances are broken, while BTCBULL offers a presale opportunity with a chance of converting initial investments into significant returns.
Bitcoin’s price has dropped by 3% within the last 24 hours, currently trading at $89,038.82. This depreciation marks a significant threshold as Bitcoin fell below the $90K level for the first time since November 14, 2024, with a low of $87,629 recorded during trading yesterday.
In recent hours, Bitcoin has managed to reclaim support at $88,444.73. This recovery may allow Bitcoin to approach major resistance at $90,884.93 if bullish momentum continues. However, if selling pressure resumes, the price may fall below support, potentially descending to $85,971.15.
Technical indicators on Bitcoin’s 4-hour chart are beginning to show bullish tendencies. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) both suggest a possible reversal from a bearish trend. Currently, the RSI is indicating a rise, reflecting increased buyer strength, although it remains below its Simple Moving Average (SMA), suggesting bears still dominate.
The MACD line is also rising towards its Signal line, indicating that the bearish momentum may be slowing. An intersection above these lines could prompt traders to react positively, subsequently lifting Bitcoin’s price above the $90K threshold, although selling pressures may still halt this movement.
Amidst fluctuating Bitcoin dynamics, investors are turning attention to BTC Bull Token (BTCBULL) as an opportunity for airdrops. Yellow Trades, a prominent YouTube channel, has speculated that BTCBULL might convert $100 into $10,000, attracting investor interest.
BTCBULL, a Bitcoin-themed meme coin, seeks to bolster Bitcoin in its aim to reach a valuation of $1 million per coin. Despite Bitcoin’s recent downturn, technical indicators suggest an impending upward movement. If Bitcoin achieves key milestones, BTCBULL holders may benefit from airdrops, particularly when Bitcoin hits prices of $150K and $200K.
In conjunction with these milestones, BTCBULL plans to initiate token burns when Bitcoin reaches $125K, $175K, and $225K, increasing the scarcity of BTCBULL. This scarcity, coupled with potential free Bitcoin opportunities, could stimulate a significant price surge.
