Bitcoin Hits $94K as BTCBULL Token Nears $5M: New Crypto Bull Run?
After spending a month swinging between the $87,000 and $74,000 levels, Bitcoin (BTC) broke out on April 21st, surging to $94,000 over the next two days.
With Bitcoins success pushing other cryptocurrencies upward, investors are paying increasing attention to BTC Bull Token (BTCBULL), a new presale project that airdrops Bitcoin rewards to holders when BTC hits major new price milestones.
Institutional Investment Fuels Bitcoins Rampant Growth
Bitcoins exceptional performance in April is the result of several factors that overshadowed the negative effects of the Trump-imposed tariffs that saw the S&P 500, crypto, and other markets take a hit in March.
Soaring above $94,000 on April 23rd when it grew by 6.39%, Bitcoin is now back at its early March levels and a step closer to reaching its all-time high (ATH) of $109,114.
The leading cryptocurrency saw a spike in institutional investment, with Metaplanet buying 330 BTC for $28.2 million and Strategy adding 6,556 BTC to their holdings for $555.8 million between April 14th and 20th.
Increased institutional interest in Bitcoin isnt a coincidence either, as Paul Atkins, the new SEC chairman, announced that building a firm regulatory foundation for digital assets will be his top priority.
Although Bitcoin experienced high volatility before, with one of its most notable price swings seeing its price increase from $67,000 to above $100,000 between November and December 2024, Bitcoin made history this month by outperforming the S&P 500.
Following negative macroeconomic developments, the S&P 500 experienced a 6.2% drop in its value from March 1st to April 1st. During the same period, Bitcoin lost only 2.13%, outperforming the stock market for the first time during notable risk-off corrections.
Comparing their performances between March 1st and April 23rd, the S&P 500 recorded a 5.78% downturn, while Bitcoin soared by 14.23%.
Crypto ELITES, a technical analyst, believes Bitcoin is now preparing to repeat its historical strong upward move pattern that follows sharp correction phases, expecting the leading cryptocurrency to reach $180,000 during the bull run.
The analysts expectations are supported by Bitcoins technical indicators, especially its move above the 50-day Simple Moving Average (SMA) of $84,741 and the 200-day SMA of $86,295, which often signals theres more room for growth.
As Bitcoin demonstrates strength and potential for further gains, its no surprise investors are turning to BTC Bull Token, which could start distributing BTC airdrop rewards sooner than expected.
Expert Highlights BTC Bull Tokens Explosive Potential
With over $4.9 million raised since its inception in February, BTC Bull Token is one of the fastest-growing presales, and Bitcoins strong performance is only helping it gain traction.
The projects developers are confident BTC is on a path to reach $1 million, and their current roadmap shows theyre willing to reward like-minded investors as Bitcoin climbs to $250,000.
The projects roadmap currently features two BTC airdrops, scheduled for when Bitcoin reaches $150,000 and $200,000, and a BTCBULL airdrop at $250,000. Token burns will also take place when Bitcoin reaches $125,000, $175,000, and $225,000.
Praising its deflationary model and its goal of offering indirect BTC exposure to its holders, meme coin expert Crypto Boy believes BTCBULL can surge by 100x on launch.
The analyst urges his audience to start accumulating BTCBULL at its current per-token price of $0.002475, as it will only keep rising throughout the presale, making this the best time to invest.
Read more: https://www.tronweekly.com/bitcoin-hits-94k-as-btcbull-token-nears-5m-new-crypto-bull-run/
Text source: TronWeekly
