Bitcoin Price Analysis: BTC Nears All-Time High as BTC ETF Inflows Soar and This PEPE 2.0 ICO Moves Toward $24 Million

bitcoin price rose 2% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>trading at $72,146 At 04:24 am EST, trading volume increased 10% to $52.16 billion.

This comes as the btc price hit a high of $73,577 on October 29, just shy of the all-time high price of $73,750 recorded in March of this year.

bitcoin is up 111.8% in the past year, after starting 2024 in the $42,000 range, according to bitcoin“>CoinGecko.

This comes as US btc spot ETFs (exchange-traded funds) recorded over $870 million in net inflows on Tuesday, the third-highest level since their launch, with BlackRock's IBIT at head with an entry of 629 million dollars.

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bitcoin Price Bulls Aim to Maintain Bullish Stance

bitcoin price is trending within an ascending channel marked by two orange lines. This channel, which begins around August, represents an uptrend with higher highs and higher lows, indicating increasing buying pressure.

btc/USD analysis on 1-day chart is trading near the top of this channel at around $71,000, which is a resistance level. According to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>Terminal GeckoIf it breaks this level, we could see further bullish momentum.

bitcoin price is now trading above the 50-day and 200-day SMA, affirming the current bullish stance.

The Relative Strength Index (RSI) is at 69.33, close to the overbought level of 70. This suggests that btc is approaching an overbought condition, which could lead to a short-term pullback or consolidation. However, if it crosses above 70, it could indicate strong bullish momentum but with the risk of an eventual correction.

Meanwhile, the moving average convergence divergence (MACD) line (blue) is above the signal line (orange), and both lines are above the zero line, reinforcing a bullish signal.

bitcoin price analysis

According to bitcoin price analysis, btc is currently in an uptrend. The bulls aim to capitalize on the SMAs and leading indicators including the RSI and MACD. If the price can break above the $73,000 resistance level with heavy volume, it could signal a continuation of the uptrend. Targets on such a breakout could potentially be near $80,000 or higher.

In contrast, the dotted lines around $61,359 and near $56,405 mark significant support zones. These are levels where the price previously consolidated, making them potential retracement areas if the price corrects from current levels.

Meanwhile, investors are rushing to buy the new meme coin. Unchained Baby (PEPU)which according to the YouTube channel 99Bitcoins, with more than 706,000 subscribers, has the potential to multiply by 10 after launch.

Pepe Unchained races towards $24 million: the best cryptocurrency to buy now?

He Pepe Unchained The pre-sale is one of the most successful of the year, with funds raised now reaching $23.4 million.

True to its name, Pepe Unchained seeks to free the OG PEPE from the limitations of its outdated Layer 1 infrastructure on ethereum.

That is why the project will operate on its own Layer 2 blockchain, addressing issues of scalability, speed and efficiency.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”8.6428571428571″>

Who needs some Brain Powder?

Pepe is preparing for the official launch of his own blockchain! pic.twitter.com/kZC72UmxFy

— Pepe Unchained (@pepe_unchained) twitter.com/pepe_unchained/status/1803856656704618843?ref_src=twsrc%5Etfw”>June 20, 2024

Token holders can earn passively through the platform betting systemoffering a whopping 99% Annual Percentage Yield (APY).

You can buy $PEPU tokens for $0.01189 each right now. With a price increase in less than 19 hours, buy soon to secure the best deal.

To join the pre-sale, buy $PEPU from the official website here using eth, USDT or a bank card.

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