Bitcoin Price Jumps 2% as This Crypto Wallet ICO Closes at $8 Million

bitcoin price is up 2% in the last 24 hours to trade at $105,092 as of 7:30 a.m. EST, on a 30% drop in trading volume to $73 billion.

The btc price surge comes as anticipation grows around President Donald Trump's plan to establish a bitcoin Strategic Reserve in the US. At the World Economic Forum in Davos on January 21, CEO Coinbase's Brian Armstrong says Trump's enthusiasm forstrategic bitcoin reserve underlines his ambition to make the United States the “crypto capital of the planet.”

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Coinbase CEO Brian Armstrong has stated that President Trump is enthusiastic about establishing a strategic bitcoin reserve. Armstrong commented: “I think he's excited about this. He really wants to be the first president of bitcoin.” <a target="_blank" href="https://twitter.com/hashtag/Xrp?src=hash&ref_src=twsrc%5Etfw”>#Xrp <a target="_blank" href="https://twitter.com/hashtag/Ripple?src=hash&ref_src=twsrc%5Etfw”>#Vibe <a target="_blank" href="https://twitter.com/hashtag/Xrparmy?src=hash&ref_src=twsrc%5Etfw”>#Xrfarmy <a target="_blank" href="https://twitter.com/hashtag/eth?src=hash&ref_src=twsrc%5Etfw”>#eth <a target="_blank" href="https://twitter.com/hashtag/btc?src=hash&ref_src=twsrc%5Etfw”>#btc <a target="_blank" href="https://twitter.com/hashtag/Sol?src=hash&ref_src=twsrc%5Etfw”>#Sun… pic.twitter.com/d71YgkEeXp

– Jestin Jibber © (@JestinJibber) <a target="_blank" href="https://twitter.com/JestinJibber/status/1882034312826282189?ref_src=twsrc%5Etfw”>January 22, 2025

Armstrong shared that his pre- and post-election discussions focused on the potential of the crypto industry. He compared bitcoin to traditional reserves like gold and oil, calling it the next logical step for the American economy.

bitcoin price could continue its upward trend

The btc/USDT pair on the 1-day time frame highlights a strong bullish trend. Currently, bitcoin is <a target="_blank" href="https://www.coingecko.com/en/coins/bitcoin“>trading at $105,092. The price is approaching a critical resistance level of around $110,000, as marked by the red dashed line. Key support levels are identified at $101,036 and a secondary level below $96,500. These levels serve as safety zones in case of a bearish correction.

The chart reveals a well-defined rising trend line, suggesting consistent upward momentum from late 2024. Historically, a falling wedge pattern in August acted as a reversal indicator, leading to the ongoing bullish rally. The current price target is around $110,000, indicated by a green arrow, indicating a possible breakout in the coming days.

<img decoding="async" class="aligncenter wp-image-620425 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-Jumps-2-as-This-Crypto-Wallet-ICO-Closes.png 1281w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-22_14-44-47-300×128.png 300w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-22_14-44-47-1024×436.png 1024w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-22_14-44-47-768×327.png 768w” data-lazy-sizes=”(max-width: 1281px) 100vw, 1281px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2025/01/Bitcoin-Price-Jumps-2-as-This-Crypto-Wallet-ICO-Closes.png”/><img decoding="async" class="aligncenter wp-image-620425 size-full" src="https://technicalterrence.com/wp-content/uploads/2025/01/Bitcoin-Price-Jumps-2-as-This-Crypto-Wallet-ICO-Closes.png" alt="bitcoin price” width=”1281″ height=”545″ srcset=”https://technicalterrence.com/wp-content/uploads/2025/01/Bitcoin-Price-Jumps-2-as-This-Crypto-Wallet-ICO-Closes.png 1281w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-22_14-44-47-300×128.png 300w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-22_14-44-47-1024×436.png 1024w, https://insidebitcoins.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-22_14-44-47-768×327.png 768w” sizes=”(max-width: 1281px) 100vw, 1281px”/>

BTCUSDT Analysis Source: Tradingview

The moving averages (MA) also support the bullish narrative. A major bullish crossover occurred in October, marking the beginning of the uptrend. These MAs now act as dynamic support levels, further stabilizing the price action.

Furthermore, the Relative Strength Index (RSI) is at 61.87, indicating strong bullish momentum while remaining below the overbought threshold of 70. This suggests that there is room for further bullish movement.

The LuxAlgo indicator has generated multiple buy signals (marked “B”) throughout the trend, reaffirming the bullish sentiment. Trendline breakouts above key resistance levels suggest strong market sentiment. However, if the price fails to break above $110,000 and instead falls below $101,036, there could be a pullback towards $96,500.

bitcoin price action appears poised for further growth if it can overcome the $110,000 resistance. A successful breakout could see the price rise towards $115,000 or even $120,000. On the contrary, failure to hold the current support levels could lead to a bearish correction.

The pre-sale of the best wallet is approaching $8 million. Best cryptocurrency to buy now?

As bitcoin price regains its bullish momentum, investors are also pumping funds into the Best Wallet (BEST) pre-sale, boosting the project's initial raising to over $7.8 million.

Best Wallet is an all-in-one platform designed to help users navigate the Web3 world. It combines features like a decentralized exchange (DEX), wallet management, and tools to make handling crypto assets simpler and more efficient.

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Built for simplicity, driven by innovation.

Best Wallet is your all-in-one solution to manage, trade and track cryptocurrencies. Unlock exclusive access to powerful tools and ALPHA on the hottest new projects!

Download now https://t.co/he5kzra7TY pic.twitter.com/tk0loLzzId

– Best Wallet (@BestWalletHQ) <a target="_blank" href="https://twitter.com/BestWalletHQ/status/1881310792215040167?ref_src=twsrc%5Etfw”>January 20, 2025

What sets it apart is the “Upcoming Tokens” section, where users can spot promising tokens before they are released. The wallet has already proven itself by identifying tokens like pepe Unchained (PEPU) which has generated huge returns for early investors.

Right now, one of the most popular options in the “Upcoming Tokens” section is Solaxy (SOLX). It is a new meme coin based on Solana and the first layer 2 solution on the Solana network, which has already raised over $13.2 million in its pre-sale.

Furthermore, BEST token holders can now stake their tokens to earn an impressive 231% annual return.

An analyst at the popular YouTube channel 99Bitcoins, with more than 719,000 subscribers, called BEST a potential game-changer.

Users can also participate in the Best Wallet airdrop by completing simple tasks to earn BEST tokens and increase their rewards daily.

To join the pre-sale, you can purchase BEST tokens for $0.0237 each.

Buy BEST tokens here ahead of a pre-sale price increase scheduled in 37 hours.

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Best wallet – manage your cryptocurrencies

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