Bitcoin Price Falls as This Crypto Wallet ICO Surpasses $5.5 Million

The price of bitcoin plunged 1% in the last 24 hours to trade at $93,385 at 02:22 am EST, with trading volume increasing 21% to $56.7 billion.

The price of btc fell to its lowest level since November, dashing hopes of a “Santa rally,” which has historically resulted in solid gains.

This comes as MicroStrategy unveils the 21/21 plan, which aims to raise $21 billion through equity financing and another $21 billion through bond issuance over three years.

According to Michael Saylor, the funds will be used to purchase more bitcoin as a way to show the company's commitment to the king of cryptocurrencies.

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JUST IN: MicroStrategy announces a special shareholder meeting to vote on key proposals aimed at accelerating its 21/21 Plan and aligning with its bitcoin strategy.

The proposals include:

1.Increase Class A shares from 330 million to 10.33 billion for future capital raising.… pic.twitter.com/3OmO5fQQOA

—Nyke Nakamoto (@Nyke_Nakamoto) <a target="_blank" href="https://twitter.com/Nyke_Nakamoto/status/1871334462631383512?ref_src=twsrc%5Etfw”>December 23, 2024

bitcoin Price in a Correction: Is a Bullish Trend Reversal Possible?

The bitcoin price chart on the daily chart shows a strong uptrend that recently entered a period of consolidation. bitcoin price has been trending up since breaking above the 200-day simple moving average (SMA) in mid-October at $63,602, marking a reversal from bearish to bullish sentiment, according to <a target="_blank" href="https://www.geckoterminal.com/eth/pools/0x99ac8ca7087fa4a2a1fb6357269965a2014abc35″>Terminal Gecko data.

At the moment, <a target="_blank" href="https://www.coingecko.com/en/coins/bitcoin“>the btc price It is trading within an ascending channel (marked in orange), indicating a gradual but sustained upward movement. However, the recent pullback towards the channel's lower boundary at $93,000 suggests some short-term weakness or profit-taking.

The 50-day SMA (white line) at $93,742 is providing immediate resistance, while the 200-day SMA remains strong support at $70,490.

The Relative Strength Index (RSI) currently stands at 41.96, indicating weakening momentum. The stock has fallen from previously bullish levels and is now approaching oversold territory. This could indicate a possible bounce if buyers approach support levels.

If the ascending channel remains intact, btc price could recover from the current support levels around $93,000 to $94,000, targeting the upper boundary of the channel near $100,000 to $105,000 in the coming weeks.

However, if bitcoin price continues to fall below the 50-day SMA, it could test the 200-day SMA at $70,490, which serves as a critical support level. Failure to maintain this level would indicate a bearish reversal.

Meanwhile, investors are rushing to Best Wallet ($BEST) pre-sale, which has already raised more than $5.5 million. crypto Gains, a YouTuber with over 141,000 subscribers, says $BEST can easily grow 10x.

Best Wallet pre-sale exceeds $5.5 million

If you are looking for a comprehensive cryptocurrency platform to buy, sell, trade, exchange and store your digital assets, the Best Wallet (BEST) app could be a great option.

Best Wallet, a direct competitor to popular wallets like Trust Wallet and MetaMask, is quickly gaining attention and may even surpass these established names in features and functionality.

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Join Best Wallet and get all the tools you need to stay ahead.

With features like exclusive access to upcoming tokens and early adopter rewards, it's no surprise we're the fastest growing crypto wallet.

Download now https://t.co/he5kzra7TY pic.twitter.com/xf2pY03CZw

– Best Wallet (@BestWalletHQ) <a target="_blank" href="https://twitter.com/BestWalletHQ/status/1868627231741808886?ref_src=twsrc%5Etfw”>December 16, 2024

One of its most popular features is its “Upcoming Tokens” section. This points users to the most promising new cryptocurrency pre-sales, allowing traders to read whitepapers, purchase tokens, and then track updates. He already has a stellar track record.

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What can be sustained? <a target="_blank" href="https://twitter.com/search?q=%24BEST&src=ctag&ref_src=twsrc%5Etfw”>$BEST unlock for you? <a target="_blank" href="https://twitter.com/search?q=%24BEST&src=ctag&ref_src=twsrc%5Etfw”>$BEST It's not just a token – it's the key to maximizing everything Best Wallet has to offer:

Get early access to new projects
Reduced transaction fees
Enjoy higher bet rewards
Exclusive token airdrops

Download now … pic.twitter.com/JpnCMgWQjc

– Best Wallet (@BestWalletHQ) <a target="_blank" href="https://twitter.com/BestWalletHQ/status/1871179220862353497?ref_src=twsrc%5Etfw”>December 23, 2024

Furthermore, the wallet allows users to stake their BEST tokens to earn a whopping 409% annual return.

With over 100,000 monthly users and strong security, Best Wallet continues to increase its credibility.

The pre-sale of the $BEST token has already raised $5.5 million, demonstrating the immense demand for the platform.

You can get into the project early by purchasing $BEST Token today for just $0.023325. Interested investors should get their hands on tokens before the next price increase in just under 1 day.

Visit the best token.

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