Bitcoin Hits $105,000 as BTC Bull Token Raises $5.6M: The Next Bitcoin?
The crypto market cap grew by over $450 billion over the past seven days, fueled by the impressive rise of Bitcoin (BTC), with most altcoins surging alongside the leading cryptocurrency.
While the start of Q1 2025 saw many cryptocurrencies rallying to new highs, the first two weeks in the years second quarter were marked with negative macroeconomic shifts that heavily influenced the pullback in the crypto market.
With the Trump administration imposing increasing tariffs on China on April 9th, the crypto market cap dropped sharply, reaching $2.42 trillion the same day. However, the two economic superpowers announced a 90-day truce, triggering a buying frenzy among crypto investors that saw the market grow by nearly 2% just on May 12th.
Fueled by the bullish sentiment, Bitcoin saw its price reach $105,626 on Monday, and although it since faced a pullback to the $104,000 mark, the leading cryptocurrency appears ready to peak above its previous all-time high (ATH) of $109,114.
As excitement around Bitcoin builds, investors are also showing interest in BTC Bull Token (BTCBULL), a presale project that will release Bitcoin airdrops when BTC hits new major price milestones.
Institutional and Whale Investments Push Bitcoin Forward Can it Reach $150,000?
With macroeconomic risks lowered, large investors seem more willing to invest in digital assets, with billions being invested in BTC between May 11th and 12th.
According to Lookonchain, one whale invested approximately $179 million in BTC since May 11th, with another newly created wallet withdrawing $52.26 million worth of BTC from Binance.
Besides individual investors, Lookonchain identified that Metaplanet, a Japanese company that strategically leverages Bitcoin as its primary treasury asset, increased its position to 6,796 BTC by purchasing 1,241 BTC on May 12th, valued at $125.3 million at the time.
Michael Saylors Strategy Inc., which also adopted Bitcoin as its primary treasury asset, invested another $1.34 billion into BTC, increasing its total investment to $39.41 billion.
While reduced trade tension and renewed institutional confidence in Bitcoin continue to fuel the positive sentiment surrounding the leading cryptocurrency, its technical indicators suggest that it might face a slight correction before its next move upward.
Its long/short ratio has been fluctuating between 0.85 and 0.97 since May 11th, indicating that more traders are shorting the token.
Additionally, its Relative Strength Index (RSI) reached overbought territory, currently at 73.59, matching the broader crypto Fear and Greed Index score of 73, which often precedes healthy corrections among leading tokens.
Crypto expert Ted Pillows believes BTC is poised to face a brief decline before it pushes beyond $105,000, expecting it to find support at the $97,000 level.
However, Bitcoins 50-day Simple Moving Average (SMA) of $89,339 is well above its 200-day SMA of $86,074, forming a Golden Cross thats often a strong signal of a tokens potential to soar in the short term.
Thats why the expert expects BTC to capitalize on its current momentum and reach a new ATH this month, forecasting a surge to nearly $150,000 by August.
BTC Bull Token Gains Momentum as Upcoming Bitcoin Airdrops Fuel Excitement
As Bitcoin continues to demonstrate strength, the new project BTC Bull Token is becoming increasingly attractive to investors looking to amplify their gains during Bitcoins bull runs via the projects airdrops.
According to BTCBULLs roadmap, its developers will distribute two BTC airdrops and one BTCBULL airdrop as Bitcoin hits new price milestones. The first BTC airdrop is scheduled once it crosses $150,000 and the second for when Bitcoin hits $200,000, while the final airdrop will commence when BTC reaches $250,000.
Additionally, the roadmap features three token burn rounds, which could create scarcity and push BTCBULLs price upward as Bitcoin grows.
Presale expert Crypto ZEUS expects BTCBULL to explode once it secures its first DEX listings, as he is confident BTC still has a lot of room to grow, which underscores BTCBULLs long-term holding value.
Currently, BTCBULL costs $0.00251 each, providing early backers with an attractive entry point, since its price will increase as more investors join the presale.
As we stand at the beginning of a potential new crypto bull run, BTC Bull Token could be set to launch in perfect market conditions and net early investors big gains.
Read more: https://www.tronweekly.com/bitcoin-hits-105000-as-btc-bull-token-raises-5-6m-the-next-bitcoin/
Text source: TronWeekly
