Bitcoin’s price rose 1% to $85,525 driven by Trump administration’s potential Bitcoin purchases with tariff revenue. Technical analysis shows resistance levels being tested, with a bullish outlook if certain prices are maintained. The BTC Bull Token offers competitive features, including Bitcoin rewards through airdrops and a presale that has attracted $4.68 million in interest.
The Bitcoin price has seen a slight increase of over 1%, reaching $85,525 as of 1:08 a.m. EST, despite a significant decline in trading volume by 41% to $43.7 billion. This rise is attributed to comments from the Trump administration regarding potential Bitcoin purchases using tariff revenue, offering a new avenue for building reserves without incurring debt or increasing taxes.
Technical analysis indicates that Bitcoin is currently testing a critical resistance zone between $85,000 and $87,000. Following a recent rebound, the price has formed a rounding top pattern and has dipped below the 50-day Simple Moving Average (SMA), while hovering near the 200-day SMA. Currently, the Relative Strength Index (RSI) is at 53.88, indicating a moderate bullish momentum, and the MACD shows potential for a bullish crossover.
Future predictions for Bitcoin’s price suggest two possible outcomes: a rise towards $100,000 if it maintains levels above the 50-day SMA and breaks the 200-day SMA, or a decline towards the Fair Value Gap (FVG) around $63,000 if bearish trends persist. Investors are particularly focused on the BTC Bull Token (BTCBULL), which offers free Bitcoin rewards through airdrops as the price of Bitcoin escalates.
The BTCBULL project has garnered significant attention, securing over $4.68 million in its presale. The token applies a unique model where holders receive Bitcoin airdrops upon Bitcoin reaching certain price milestones, enhancing investor engagement. Additionally, periodic token burns will commence at $125,000, limiting supply and further influencing potential price increases. This cryptocurrency is poised to present exciting opportunities amid a rising market interest.
