Bitcoin price rises 1.5%, but is this ICO the best buy now?

bitcoin price has risen 1.5% in the last 24 hours to trade at $104,653 as of 8 pm EST on a 50% drop in trading volume to $47 billion.

This comes as Nasdaq filed a request with the Securities and Exchange Commission to allow it to make in-kind redemptions for BlackRock's Ishares bitcoin Trust (IBIT).

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Only in: BlackRock's bitcoin ETF now allows in-kind redemption, allowing investors to exchange their shares for real bitcoin instead of cash. pic.twitter.com/3zekqzj2bp

– Michael Saylor Founder of Microstrategy (parody) (@saylorsatsire) <a target="_blank" href="https://twitter.com/Saylorsatsire/status/1882901353632292906?ref_src=twsrc%5Etfw”>January 24, 2025

The move would allow institutional investors to exchange IBIT shares directly for bitcoin, improving efficiency and responsiveness to market demand. Retail investors, however, remain excluded from this process.

Initially, the SEC required cash-only refunds when approving bitcoin Spot ETFs, preventing direct handling of bitcoin by brokers. BlackRock's IBIT, now the largest btc ETF, has attracted $40 billion in inflows within its first year, making it the most successful ETF launch to date.

bitcoin price nears $110k resistance, finds a correction

BTCUSDT price action within 1 day provides key information about its recent performance and possible future movement. A key resistance level is clearly defined around $110,000, where the price has struggled to break through twice, forming a double pattern that is often a bearish reversal signal, becoming a critical barrier to a further move higher.

On the downside, a strong support level is identified near $96,500. This level has served as a safety net for the price, with buyers stepping in to prevent further declines whenever price addresses it. If the price fails to maintain the current levels or breaks below this support, it could trigger a bearish move, which may lead to deeper corrections.

<img decoding="async" class="aligncenter wp-image-621300 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin price” width=”1281″ height=”545″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2025/01/Bitcoin-price-rises-15-but-is-this-ICO-the-best.png 1281w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-25_04-44-19-300×128.png 300w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-25_04-44-19-1024×436.png 1024w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-25_04-44-19-768×327.png 768w” data-lazy-sizes=”(max-width: 1281px) 100vw, 1281px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2025/01/Bitcoin-price-rises-15-but-is-this-ICO-the-best.png”/><img decoding="async" class="aligncenter wp-image-621300 size-full" src="https://technicalterrence.com/wp-content/uploads/2025/01/Bitcoin-price-rises-15-but-is-this-ICO-the-best.png" alt="bitcoin price” width=”1281″ height=”545″ srcset=”https://technicalterrence.com/wp-content/uploads/2025/01/Bitcoin-price-rises-15-but-is-this-ICO-the-best.png 1281w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-25_04-44-19-300×128.png 300w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-25_04-44-19-1024×436.png 1024w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-25_04-44-19-768×327.png 768w” sizes=”(max-width: 1281px) 100vw, 1281px”/>

BTCUSDT Analysis Source: TradingView

bitcoin price: bullish indicators may indicate a pullback soon

The RSI (Relative Strength Index) provides additional context, currently reading 60.44. This indicates a bullish bias as the RSI remains below the 70 overbought zone and <a target="_blank" href="https://www.coingecko.com/en/coins/bitcoin“>bitcoin price It has room for further upward movement. However, traders should be cautious as an approaching RSI overbought region often signals potential exhaustion in buying pressure.

The chart indicates that before any major breakout or breakdown, bitcoin may revisit the $101,500–$102,000 range as a short-term bounce zone, aligning with the current trendline support. The break above the symmetrical triangle pattern adds to the bullish narrative, indicating that bitcoin could continue its upward trajectory if the resistance is broken. If bitcoin successfully breaks above the $110,000 resistance, the next target will be $130,000.

On the other hand, if bitcoin fails to break the resistance, a pullback to $96,500 support is likely. A violation of this support could indicate a deeper downtrend, possibly leading to a retest of lower levels. Monitoring the RSI and price action near these key levels will determine the next major move in the btc/USDT market.

Pre-Sale Meme Index Nears $3 Million, Next crypto to Explode?

While bitcoin resumes an upward trajectory, investors are also pumping money into pre-sales for MEME Index (MEMEX), the first decentralized project to offer investors vehicles for diversified investments in MEME coins. It has already raised more than $2.88 million.

MEMEX makes investing in meme coins simple with four wallets: MEME Titan, Meme Moonshot, MEME Midcap, and Meme Frenzy. Each portfolio is designed to cater to different risk appetites, allowing investors to go with the option that best suits their preferences.

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MEME Index is live on upcoming tokens! <a target="_blank" href="https://twitter.com/memecoin_index?ref_src=twsrc%5Etfw”>@memecoin_index introduces the first diversified meme coin platform, powered by <a target="_blank" href="https://twitter.com/search?q=%24MEMEX&src=ctag&ref_src=twsrc%5Etfw”>$MEMEXgiving unparalleled access to the $120 billion meme coin market.

MEME Index offers exclusive access to indices that address each risk… pic.twitter.com/gsibbuzozx

– Best Wallet (@BestWallethq) <a target="_blank" href="https://twitter.com/BestWalletHQ/status/1872656212686160070?ref_src=twsrc%5Etfw”>December 27, 2024

If you love high risk, high reward opportunities, the MEME Frenzy Portfolio focuses on new and volatile meme coins. It is risky but offers the opportunity for great returns. On the other hand, the MEME Titan index includes the largest meme coins by market capitalization and is therefore relatively more conservative.

All portfolios adapt to market trends and are adjusted according to community votes.

Popular YouTuber Claybro, with over 135K subscribers, predicts that MEMEX could increase in value 26X after launch.

https://www.youtube.com/watch?v=WWMZIROXGQ0

Investors can also stake their tokens for a whopping 819% annual return.

Right now, MEMEX tokens are priced at $0.0155312 and can be purchased with eth, USDT, BNB, or a bank card. Buy before a price increase in less than 22 hours to secure the best deal.

Check out Memex here.

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