Bitcoin's price dropped by 1.5% over the past 24 hours, trading at $95,826. This decline occurred amidst a surge in trading volume and a major purchase by Metaplanet.
Sharp Drop in Bitcoin Price
Japanese investment firm Metaplanet made its largest-ever Bitcoin purchase, acquiring 619.7 BTC for nearly $60 million. Despite this event, Bitcoin's price fell by 1.5%, driven by a 17% increase in trading volume.
Consolidation and Potential $100K Retest
Bitcoin shows a slight decline of $540.37, possibly indicating a consolidation phase before a potential upward move. Key support is at $93,428, aligning with the steadily rising 50-day moving average. The Relative Strength Index (RSI) is at 57.95, suggesting moderate bullish energy with room for growth. If Bitcoin surpasses the $100,000 psychological mark, the next target could be $120,000 in the medium term.
Flockerz Presale Success
As Bitcoin's price falls, investors are turning to the meme coin Flockerz, which has raised over $7.6 million during its presale. Flockerz stands out with its Vote-to-Earn system, engaging the community in decision-making and allowing them to earn FLOCK tokens. With less than 30 days left in the presale, the FLOCK token is priced at $0.006504.
Despite the drop in Bitcoin's price, interest in crypto investments remains strong. Large investments, such as Metaplanet's acquisition, and growing interest in new projects like Flockerz, highlight the activity and diversity of the crypto market.
