Bitcoin's price dropped 3% over the past 24 hours amid a 12% increase in trading volume.
Bitcoin Price Drop
Bitcoin price fell 3% in the last 24 hours to $104,193. This comes after MicroStrategy co-founder and executive chairman Michael Saylor indicated that incoming president Donald Trump is seriously considering setting up a strategic Bitcoin reserve. Saylor added that overseas capital and antiquated 20th-century capital are expected to flow into digital assets, including the Bitcoin network.
Bitcoin Analysis
Bitcoin is currently trading at $103,976, reflecting a 2.03% decline. Charts highlight two key support levels at $90,840 and around $80,000. Meanwhile, the target price is around $115,000, a major resistance level. A bullish signal appears as a 'Golden Cross,' where the 50-day moving average crosses above the 200-day one. The Relative Strength Index (RSI) is at 63.62, indicating potential upward momentum.
BEST Token Presale
The BEST token, a new crypto wallet, has raised over $4.8 million in its presale. BEST offers several advantages, including a non-custodial structure and multi-chain support, alongside exclusive access to early-stage projects and reduced transaction fees for token holders. The 'Upcoming Tokens' section has garnered investor interest by providing insights into promising presales.
The Bitcoin market remains dynamic, with decreasing prices and potential opportunities for growth, highlighting the ongoing development and impact of digital assets on the global economy.
