Bitcoin Price Prediction: Mt. Gox Moves 47.2K BTC Ahead of FOMC Decision, Time Running Out to Buy 99 BTC in ICO

bitcoin price fell 0.5% over the past 24 hours to trade at $66,363 as of 2:30 a.m. EST on trading volume that dropped 26%.

This comes amid ongoing refund issues at Mt. Gox, as the defunct cryptocurrency exchange moved another 47,229 btc, worth over $3 billion, to three unknown wallets.

This comes after it transferred $3.89 billion worth of btc to Bitstamp, Kraken, Bitbank and SBI VC Trade since July 5 as part of a refund plan.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”9.8275862068966″>

Mt. Gox moved 47,229 people twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc($3.13B) to 3 unknown wallets again in the last 3 hours!twitter.com/hashtag/MtGox?src=hash&ref_src=twsrc%5Etfw”>#MtGox has moved 61,559 twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc($3.89B) to twitter.com/hashtag/Bitstamp?src=hash&ref_src=twsrc%5Etfw”>#bit stamp, twitter.com/hashtag/Kraken?src=hash&ref_src=twsrc%5Etfw”>#Kraken, twitter.com/hashtag/Bitbank?src=hash&ref_src=twsrc%5Etfw”>#Bitbankand SBI VC Trade for refund from July 5.https://t.co/f2q66eQNuk photo.twitter.com/3G1tp47rav

— Lookonchain (@lookonchain) twitter.com/lookonchain/status/1818469315383030050?ref_src=twsrc%5Etfw”>July 31, 2024

Meanwhile, crypto markets are also keeping an eye on the Federal Reserve. This comes ahead of Federal Reserve Chairman Jerome Powell’s press conference at 2:30 p.m. ET after the close of the Federal Open Market Committee (FOMC) meeting.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”5.5738636363636″>

Tomorrow at 2:30 p.m. Eastern Time: Chairman Powell Presents Live twitter.com/hashtag/FOMC?src=hash&ref_src=twsrc%5Etfw”>#FOMC Press conference: https://t.co/WJAT3hR1Io image.twitter.com/r3A3OCNjPa

— Federal Reserve (@federalreserve) twitter.com/federalreserve/status/1818284238468436061?ref_src=twsrc%5Etfw”>July 30, 2024

crypto Rover, a popular trader, highlighted that three of the last four FOMC meetings marked lows for bitcoin.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”9.9141414141414″>

Tomorrow we have another FOMC meeting.

Of the last 4 FOMC meetings, 3 marked the lowest point twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin

Will history repeat itself? image.twitter.com/chrsG0bQzd

—crypto Rover (@rovercrc) twitter.com/rovercrc/status/1818329206335644010?ref_src=twsrc%5Etfw”>July 30, 2024

The data show a 4.1% probability of a change occurring and a 95.9% probability of the exchange rate remaining the same.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”7.7840909090909″>

1 day before FOMC decision:

4.1% chance of a PIVOT
The probability rate of 95.9% remains the same image.twitter.com/2312lOTeRa

— Satoshi Flipper (@SatoshiFlipper) twitter.com/SatoshiFlipper/status/1818311404442558685?ref_src=twsrc%5Etfw”>July 30, 2024

bitcoin Price Prediction

bitcoin price is trading in an uptrend, holding steady within an ascending parallel channel. If the confluence between the 38.2% Fibonacci retracement level of $65,772 and the lower boundary of the channel holds as a support level, btc could head north.

A flip of the $68,746 resistance level into a support floor would pave the way for further advance. A breakout and close above this level would encourage more buy orders, which could send the pioneer cryptocurrency to the range high of $73,553. In a highly bullish case, gains could be extrapolated towards a new peak.

The outlook for the Relative Strength Index (RSI), which remains above the mid-50 level, shows that the bulls are still in control. This could push the bitcoin price further north. The Moving Average Convergence-Divergence reinforces this stance, holding in positive territory and above the signal line.

<img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201366%20765'%3E%3C/svg%3E" alt="bitcoin” width=”1366″ height=”765″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/08/Bitcoin-Price-Prediction-Mt-Gox-Moves-472K-BTC-Ahead-of.png 1366w, https://insidebitcoins.com/wp-content/uploads/2024/07/BTCwww-300×168.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/07/BTCwww-1024×573.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/07/BTCwww-768×430.png 768w” data-lazy-sizes=”(max-width: 1366px) 100vw, 1366px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/08/Bitcoin-Price-Prediction-Mt-Gox-Moves-472K-BTC-Ahead-of.png”/>

<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/08/Bitcoin-Price-Prediction-Mt-Gox-Moves-472K-BTC-Ahead-of.png" alt="bitcoin” width=”1366″ height=”765″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/08/Bitcoin-Price-Prediction-Mt-Gox-Moves-472K-BTC-Ahead-of.png 1366w, https://insidebitcoins.com/wp-content/uploads/2024/07/BTCwww-300×168.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/07/BTCwww-1024×573.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/07/BTCwww-768×430.png 768w” sizes=”(max-width: 1366px) 100vw, 1366px”/>

eth/pools/0x4585fe77225b41b697c938b018e2ac67ac5a20c0″ target=”_blank” rel=”nofollow noopener”>GeckoTerminal: btc/USD 1-day chart

Conversely, a closer look at the MACD shows an imminent sell signal, which would be executed if this indicator crosses below the signal line. The MACD histograms are also flashing red, suggesting an incipient bearish sentiment in the btc market.

If the support level of $65,772 is broken, the bitcoin price could extend the decline. In such a directional bias, only a breakout and close below $63,369 would scare investors. In an extreme case where the altcoin were to fall, a candle close below $60,965 would trigger panic selling.

For the bullish thesis to be invalidated, bears need to drive bitcoin price below $53,185, which was last tested on July 5.

Meanwhile, bitcoin believers are also buying 99Bitcoins (99BTC), which has amassed over $2.5 million in funding. It is now offering investors one last chance to buy with less than 6 days left in the pre-sale.

Jacob Bury, a prominent cryptocurrency YouTuber, believes that 99BTC has the potential to turn $1,000 into $10,000 after its launch.

Promising alternative to bitcoin

99Bitcoins has been a sensation as a cryptocurrency education platform, with over 705,000 subscribers on its YouTube channel and over 2 million people enrolled in the website’s courses.

With the launch of its ICO, 99 Bitcoins introduces a Learn-to-Earn (L2E) model that incentivizes its students to learn about cryptocurrencies.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”11.724137931034″>

Since 2014, $99BTC has been at the forefront of twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#Cryptocurrencies education.

Experienced Guidance: Decades of combined knowledge.

Wide range: covers multiple twitter.com/hashtag/Cryptocurrencies?src=hash&ref_src=twsrc%5Etfw”>#CRYPTOCURRENCIES.

twitter.com/hashtag/LearnToEarn?src=hash&ref_src=twsrc%5Etfw”>#LearnToWinGet rewarded while you learn!

Begin: https://t.co/NXD7DAamqrtwitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc image.twitter.com/lJjLgkgVI2

— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1787105033789538619?ref_src=twsrc%5Etfw”>May 5, 2024

The platform aims to enhance the learning experience by gamifying bitcoin education. In this case, users complete challenges and lessons, allowing them to earn higher rankings and 99 btc as a reward.

Users of the platform can also earn passively by staking $99 btc, which offers an impressive annual percentage yield (APY) of 671%.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”6.7967479674797″>

Short on time? Simply stake your $99 btc tokens on our website and earn passive rewards effortlessly!

Join now! https://t.co/nA4Lw89WA0twitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#Cryptocurrencies twitter.com/hashtag/Presale?src=hash&ref_src=twsrc%5Etfw”>#Presale twitter.com/hashtag/Alts?src=hash&ref_src=twsrc%5Etfw”>#Alts image.twitter.com/av0mkMvIbR

— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1781322130325430669?ref_src=twsrc%5Etfw”>April 19, 2024

You can buy 99 btc now for $0.00116. The pre-sale closes in less than 6 days, so buy soon before it's too late.

Visit and buy 99Bitcoins here.

Read also: