Bitcoin Price Falls as Traders Shift Focus to This 287% APY ICO

The price of bitcoin plunged 3% in the last 24 hours to trade at $94,204 at 02:20 am EST, with trading volume plunging 6% to $64.6 billion.

This comes as the US Department of Justice (DOJ) was authorized to authorize the sale of around 69,370 bitcoin that were seized from the Silk Road darknet market. This stash is currently worth around $6.5 billion.

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US government authorized to sell 69,370 bitcoins worth $6.5 billion seized from Silk Road pic.twitter.com/mrkD6VWGDw

– Ajay Kashyap (@EverythingAjay) <a target="_blank" href="https://twitter.com/EverythingAjay/status/1877251395746734276?ref_src=twsrc%5Etfw”>January 9, 2025

bitcoin price continues to show signs of a bullish rally

He <a target="_blank" href="https://www.coingecko.com/en/coins/bitcoin“>btc price The daily chart reflects a period of significant consolidation after a strong rally earlier in the year. bitcoin price recently tested a key support zone around $92,000 to $94,000, holding several times during pullbacks.

However, the $101,000 resistance (marked in orange) has kept the price in check, creating a well-defined range structure, as data from <a target="_blank" href="https://www.geckoterminal.com/eth/pools/0x4585fe77225b41b697c938b018e2ac67ac5a20c0″>Terminal Gecko sample.

After the November bullish move (green arrow), btc price failed to maintain momentum and has been trading sideways within this support and resistance band. The chart shows a sideways pattern, which previously led to a breakout. Whether this support holds could determine the next major directional move.

bitcoin price is currently below the 50-day SMA, indicating short-term bearish pressure. This level has acted as support and resistance in the past. Meanwhile, the long-term trend remains bullish as the 200-day SMA is sloping upward.

The fact that btc price remains well above this level shows that the overall structure still favors buyers on the broader time frame.

The Relative Strength Index (RSI) stands at 45.04, reflecting slight bearish momentum. It is below the neutral level of 50, which does not suggest overbought or oversold conditions.

This indicates consolidation and the possibility of further sideways action unless a breakout occurs.

btc Price Prediction: An Imminent Incoming Uptrend?

If buyers manage to push bitcoin price above the 50-day SMA ($97,509) and break the $100,000 resistance, the next target could be the $110,000 to $115,000 range. Higher volume and higher RSI would support this scenario.

On the contrary, if btc price falls below the $94,000 support, we could see a move towards the 200-day SMA at $72,898, which serves as an important support zone for the long-term uptrend. A continuation of the low RSI could make the sell-off even worse.

Meanwhile, investors are rushing to the Best Wallet ($BEST) pre-sale, which has already raised more than 6.7 million dollars. crypto Gains, a YouTuber with over 141,000 subscribers, says $BEST may grow 10x after launch.

Best Wallet pre-sale exceeds $6.7 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 287% annual return.

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

You can join the project early by purchasing $BEST Token today for just $0.023525. Interested investors should grab tokens before the next price increase in less than 14 hours.

Visit the best token

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